Invesco Financial Preferred ETF (NYSEARCA:PGF)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.78 and last traded at $18.78, with a volume of 13553 shares. The stock had previously closed at $18.71.
Separately, Raymond James reiterated a “sell” rating and issued a $0.50 price target on shares of Invesco Financial Preferred ETF in a research report on Thursday, May 9th.
The company’s fifty day moving average price is $18.61.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc bought a new stake in shares of Invesco Financial Preferred ETF in the 2nd quarter valued at approximately $32,000. Liberty Wealth Management LLC bought a new stake in shares of Invesco Financial Preferred ETF in the 2nd quarter valued at approximately $51,000. Deutsche Bank AG bought a new stake in Invesco Financial Preferred ETF during the fourth quarter worth approximately $63,000. GWM Advisors LLC boosted its position in Invesco Financial Preferred ETF by 432.3% during the first quarter. GWM Advisors LLC now owns 196,009 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 159,186 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in Invesco Financial Preferred ETF during the first quarter worth approximately $75,000.
Invesco Financial Preferred ETF Company Profile (NYSEARCA:PGF)
PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly.
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