Short interest in the Invesco Financial Preferred ETF (NYSEARCA: PGF) saw a significant increase of 48.0% in December. As of December 31, 2023, short interest totaled 95,351 shares, up from 64,444 shares on December 15, 2023. This surge indicates that approximately 0.2% of the ETF’s shares are currently short sold, with a days-to-cover ratio of 0.2 days, based on an average daily trading volume of 445,861 shares.
The Invesco Financial Preferred ETF maintained its trading price at $14.40 during market hours on Friday. The trading volume reached 151,868 shares, significantly lower than its average volume of 323,997 shares. The ETF’s performance includes a 50-day moving average of $14.22 and a 200-day moving average of $14.39. Over the past year, the ETF has experienced a low of $13.61 and a high of $15.00.
Institutional Investors Increasing Stakes
Recent activity among institutional investors indicates a growing interest in Invesco Financial Preferred ETF. For instance, Nvwm LLC acquired a new position in the ETF during the second quarter, investing approximately $34,000. Similarly, Motco purchased shares valued at around $39,000 during the same period.
The investment firm Rogco LP significantly increased its stake by 147.7%, now holding 3,619 shares valued at $51,000. This acquisition included an additional 2,158 shares in the last quarter. Other notable investors include Ameritas Advisory Services LLC, which bought a new stake worth $84,000, and Advisory Services Network LLC, which invested $121,000 in the third quarter.
Understanding the Invesco Financial Preferred ETF
The Invesco Financial Preferred ETF is designed to track the performance of the Wells Fargo Hybrid and Preferred Financial Index, which includes securities issued by financial institutions listed in the United States. This non-diversified fund typically invests at least 90% of its total assets in preferred securities within the index. The fund’s holdings may include securities from both the financial and insurance sectors.
With growing interest from institutional investors and a notable rise in short interest, the Invesco Financial Preferred ETF continues to be a focal point for market participants. Investors may want to monitor developments closely, considering the implications of these trends on future performance.
