AdvisorNet Financial Inc Reduces Stock Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

AdvisorNet Financial Inc reduced its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,520 shares of the company’s stock after selling 2,853 shares during the period. AdvisorNet Financial Inc’s holdings in Invesco Preferred ETF were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at about $178,000. CWM LLC grew its holdings in shares of Invesco Preferred ETF by 14.2% in the fourth quarter. CWM LLC now owns 38,289 shares of the company’s stock valued at $439,000 after purchasing an additional 4,757 shares in the last quarter. CAP Partners LLC acquired a new position in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $199,000. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Invesco Preferred ETF by 149.9% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 66,172 shares of the company’s stock valued at $759,000 after purchasing an additional 39,689 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in Invesco Preferred ETF during the 4th quarter worth approximately $390,000.

Invesco Preferred ETF Price Performance

PGX stock remained flat at $11.82 on Thursday. 3,748,945 shares of the company traded hands, compared to its average volume of 3,502,535. Invesco Preferred ETF has a 1 year low of $10.14 and a 1 year high of $12.06. The firm’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $11.68.

About Invesco Preferred ETF

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.