Invesco Preferred ETF
232 hedge funds and large institutions have $1.59B invested in Invesco Preferred ETF in 2016 Q4 according to their latest regulatory filings, with 45 funds opening new positions, 73 increasing their positions, 86 reducing their positions, and 36 closing their positions.
25% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 36
2% more funds holding
Funds holding: 227 → 232 (+5)
3.42% less ownership
Funds ownership: 40.19% → 36.77% (-3.4%)
15% less repeat investments, than reductions
Existing positions increased: 73 | Existing positions reduced: 86
19% less capital invested
Capital invested by funds: $1.95B → $1.59B (-$362M)
19% less funds holding in top 10
Funds holding in top 10: 16 → 13 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAAS
First Allied Advisory Services
San Diego,
California
|
+$11.4M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
+$9.64M |
| 3 |
FWM
FFT Wealth Management
Philadelphia,
Pennsylvania
|
+$5.12M |
| 4 |
Wells Fargo
San Francisco,
California
|
+$4.57M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$3.57M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$75.8M |
| 2 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$33.3M |
| 3 |
Morgan Stanley
New York
|
-$28.3M |
| 4 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
-$20.4M |
| 5 |
Prudential Financial
Newark,
New Jersey
|
-$19.1M |
PGX Hedge Fund Activity: Q4 2016 in Review
232 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Invesco Preferred ETF (PGX) for Q4 2016, worth a combined $1.59B — down 19% from $1.95B a quarter earlier.
Buyers outnumbered sellers: 45 funds opened new PGX positions and 36 closed out — a net gain of 9 holders — while 73 added to existing stakes and 86 trimmed.
The largest buyer was First Allied Advisory Services, adding an estimated $11.4M. The largest seller was Bank of America, cutting an estimated $75.8M.
- 232 institutional investors held Invesco Preferred ETF (PGX) as of Q4 2016, up from 227 in Q3 2016.
- Funds reported $1.59B of Invesco Preferred ETF stock for Q4 2016, down 19% quarter-over-quarter.
- 45 funds opened new Invesco Preferred ETF positions in Q4 2016 and 36 closed out, a net change of +9 holders.
- The largest Invesco Preferred ETF buyer in Q4 2016 was First Allied Advisory Services, an estimated $11.4M added.
- The largest Invesco Preferred ETF seller in Q4 2016 was Bank of America, an estimated $75.8M sold.
Based on aggregated 13F filings for Q4 2016.