Acute Investment Advisory LLC Sells 135,099 Shares of Invesco Preferred ETF (NYSEARCA:PGX)

Acute Investment Advisory LLC lowered its position in Invesco Preferred ETF (NYSEARCA:PGX) by 42.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 186,915 shares of the company’s stock after selling 135,099 shares during the quarter. Invesco Preferred ETF accounts for 2.4% of Acute Investment Advisory LLC’s holdings, making the stock its 9th largest holding. Acute Investment Advisory LLC’s holdings in Invesco Preferred ETF were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in shares of Invesco Preferred ETF by 34.1% during the second quarter. NewEdge Advisors LLC now owns 131,080 shares of the company’s stock worth $1,514,000 after purchasing an additional 33,307 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Invesco Preferred ETF by 3.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 56,053 shares of the company’s stock worth $647,000 after purchasing an additional 1,630 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Invesco Preferred ETF by 3.5% during the second quarter. Cetera Investment Advisers now owns 769,226 shares of the company’s stock worth $8,885,000 after purchasing an additional 26,343 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Invesco Preferred ETF during the second quarter worth about $3,917,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Invesco Preferred ETF by 19.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 20,900 shares of the company’s stock worth $258,000 after purchasing an additional 3,475 shares in the last quarter.

Invesco Preferred ETF Stock Performance

Shares of PGX opened at $11.55 on Friday. The stock’s 50-day moving average is $11.68 and its two-hundred day moving average is $11.94. Invesco Preferred ETF has a 12 month low of $11.23 and a 12 month high of $12.54.

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.