First Trust Advisors LP Sells 3,872,014 Shares of Invesco Preferred ETF $PGX

First Trust Advisors LP trimmed its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 53.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,379,539 shares of the company’s stock after selling 3,872,014 shares during the quarter. First Trust Advisors LP owned about 1.00% of Invesco Preferred ETF worth $37,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spectrum Asset Management Inc. lifted its stake in shares of Invesco Preferred ETF by 28.4% during the 2nd quarter. Spectrum Asset Management Inc. now owns 4,669,495 shares of the company’s stock worth $51,972,000 after buying an additional 1,033,904 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Invesco Preferred ETF by 21.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,139,050 shares of the company’s stock valued at $46,068,000 after buying an additional 728,924 shares during the last quarter. Allworth Financial LP raised its holdings in Invesco Preferred ETF by 8.4% in the 2nd quarter. Allworth Financial LP now owns 2,848,588 shares of the company’s stock valued at $31,705,000 after acquiring an additional 221,139 shares during the period. Raymond James Financial Inc. lifted its position in Invesco Preferred ETF by 8.1% during the first quarter. Raymond James Financial Inc. now owns 2,769,857 shares of the company’s stock worth $31,078,000 after acquiring an additional 208,107 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Invesco Preferred ETF by 57.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after acquiring an additional 683,754 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors and hedge funds.

Invesco Preferred ETF Stock Performance

Shares of NYSEARCA:PGX opened at $11.22 on Wednesday. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.94. The business has a 50 day moving average of $11.44 and a 200-day moving average of $11.37.

Invesco Preferred ETF Profile

The PowerShares Preferred Portfolio (Fund) is based on The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index (Index). The Fund normally invest at least 90% of its total assets in securities that comprise the Index. The Index is designed to replicate the total return of a diversified group of investment-grade preferred securities.