Kovack Advisors Inc. Increases Stake in Invesco Preferred ETF (NYSEARCA:PGX)

Kovack Advisors Inc. increased its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 16.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,093 shares of the company’s stock after acquiring an additional 1,672 shares during the period. Kovack Advisors Inc.’s holdings in Invesco Preferred ETF were worth $139,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Financial Advocates Investment Management purchased a new stake in Invesco Preferred ETF during the 3rd quarter valued at $147,000. Stephens Inc. AR boosted its position in Invesco Preferred ETF by 9.1% during the 3rd quarter. Stephens Inc. AR now owns 254,108 shares of the company’s stock valued at $3,138,000 after buying an additional 21,262 shares during the period. Gladstone Institutional Advisory LLC boosted its position in Invesco Preferred ETF by 5.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 27,089 shares of the company’s stock valued at $335,000 after buying an additional 1,422 shares during the period. Janney Montgomery Scott LLC boosted its position in Invesco Preferred ETF by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 475,139 shares of the company’s stock valued at $5,868,000 after buying an additional 15,486 shares during the period. Finally, Acute Investment Advisory LLC purchased a new stake in Invesco Preferred ETF during the 3rd quarter valued at $3,977,000.

Invesco Preferred ETF Stock Performance

Shares of NYSEARCA PGX opened at $11.68 on Monday. Invesco Preferred ETF has a 12 month low of $11.23 and a 12 month high of $12.54. The firm has a fifty day simple moving average of $11.59 and a two-hundred day simple moving average of $11.93.

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.