Gateway Wealth Partners LLC Takes $598,000 Position in Invesco Preferred ETF (NYSEARCA:PGX)

Gateway Wealth Partners LLC purchased a new position in Invesco Preferred ETF (NYSEARCA:PGX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 51,770 shares of the company’s stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oxbow Advisors LLC increased its holdings in shares of Invesco Preferred ETF by 5.6% in the 2nd quarter. Oxbow Advisors LLC now owns 22,494 shares of the company’s stock valued at $260,000 after acquiring an additional 1,199 shares during the period. Argus Investors Counsel Inc. grew its stake in Invesco Preferred ETF by 3.1% in the second quarter. Argus Investors Counsel Inc. now owns 41,526 shares of the company’s stock valued at $480,000 after purchasing an additional 1,237 shares during the last quarter. Cherry Tree Wealth Management LLC grew its stake in Invesco Preferred ETF by 0.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 499,824 shares of the company’s stock valued at $5,938,000 after purchasing an additional 1,315 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in Invesco Preferred ETF by 5.8% in the first quarter. Perigon Wealth Management LLC now owns 26,623 shares of the company’s stock worth $316,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Sax Wealth Advisors LLC lifted its position in shares of Invesco Preferred ETF by 9.4% during the second quarter. Sax Wealth Advisors LLC now owns 17,565 shares of the company’s stock valued at $203,000 after buying an additional 1,510 shares during the last quarter.

Invesco Preferred ETF Stock Performance

NYSEARCA:PGX opened at $12.35 on Tuesday. The company’s 50-day simple moving average is $11.99 and its 200-day simple moving average is $11.76. Invesco Preferred ETF has a fifty-two week low of $10.14 and a fifty-two week high of $12.54.

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.