Pinnacle Associates Ltd. Decreases Stock Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

Pinnacle Associates Ltd. reduced its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 4.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,624 shares of the company’s stock after selling 1,211 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Invesco Preferred ETF were worth $305,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PGX. Diversify Advisory Services LLC raised its stake in Invesco Preferred ETF by 39.9% during the third quarter. Diversify Advisory Services LLC now owns 17,052 shares of the company’s stock worth $210,000 after purchasing an additional 4,867 shares during the period. Gateway Wealth Partners LLC increased its stake in Invesco Preferred ETF by 6.8% during the third quarter. Gateway Wealth Partners LLC now owns 55,300 shares of the company’s stock worth $683,000 after acquiring an additional 3,530 shares during the last quarter. Orrstown Financial Services Inc. purchased a new stake in Invesco Preferred ETF in the third quarter valued at $124,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Invesco Preferred ETF by 15.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 16,047 shares of the company’s stock valued at $198,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new stake in shares of Invesco Preferred ETF during the 3rd quarter worth about $124,000.

Invesco Preferred ETF Stock Down 0.6 %

NYSEARCA PGX opened at $12.00 on Monday. The firm’s 50-day moving average is $12.27 and its two-hundred day moving average is $11.85. Invesco Preferred ETF has a 12 month low of $10.64 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.