Checchi Capital Advisers LLC Lowers Stock Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

Checchi Capital Advisers LLC reduced its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,152,725 shares of the company’s stock after selling 174,688 shares during the period. Invesco Preferred ETF makes up about 0.8% of Checchi Capital Advisers LLC’s holdings, making the stock its 24th largest holding. Checchi Capital Advisers LLC owned about 0.31% of Invesco Preferred ETF worth $13,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Invesco Preferred ETF during the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Invesco Preferred ETF by 299.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,793 shares of the company’s stock worth $32,000 after acquiring an additional 2,093 shares in the last quarter. Kentucky Trust Co purchased a new stake in Invesco Preferred ETF in the fourth quarter valued at $36,000. Roxbury Financial LLC acquired a new position in Invesco Preferred ETF in the fourth quarter valued at $42,000. Finally, Orrstown Financial Services Inc. purchased a new position in shares of Invesco Preferred ETF during the third quarter worth about $124,000.

Invesco Preferred ETF Price Performance

Shares of NYSEARCA PGX opened at $11.68 on Wednesday. The business has a 50-day moving average price of $11.59 and a 200 day moving average price of $11.93. Invesco Preferred ETF has a 52-week low of $11.23 and a 52-week high of $12.54.

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.