Short Interest in Invesco Preferred ETF (NYSEARCA:PGX) Drops By 18.1%
by Scott Moore · The Cerbat GemInvesco Preferred ETF (NYSEARCA:PGX – Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 4,057,876 shares, a decline of 18.1% from the March 15th total of 4,954,292 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 2,594,885 shares, the days-to-cover ratio is currently 1.6 days.
Invesco Preferred ETF Stock Performance
PGX stock traded down $0.06 during midday trading on Thursday, reaching $11.18. 4,434,556 shares of the company’s stock traded hands, compared to its average volume of 3,818,167. The firm’s fifty day moving average price is $11.23 and its 200-day moving average price is $11.34. Invesco Preferred ETF has a 52 week low of $10.80 and a 52 week high of $11.92.
Institutional Trading of Invesco Preferred ETF
Several institutional investors have recently made changes to their positions in PGX. Brighton Jones LLC bought a new stake in shares of Invesco Preferred ETF in the 4th quarter worth $626,000. Goldman Sachs Group Inc. grew its stake in shares of Invesco Preferred ETF by 57.4% in the 1st 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 in the last quarter. Jane Street Group LLC grew its stake in shares of Invesco Preferred ETF by 181.6% in the 1st quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock worth $4,714,000 after acquiring an additional 270,939 shares in the last quarter. Invesco Ltd. grew its stake in shares of Invesco Preferred ETF by 1.5% in the 2nd quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock worth $1,253,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Invesco Preferred ETF in the 2nd quarter worth $679,000. Institutional investors own 8.60% of the company’s stock.
Invesco Preferred ETF Company 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. The Index is rebalanced on a monthly basis. The Fund seeks investment results that correspond generally to the price and yield (before fees and expenses) of a securities index.