28-Mar-2024
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The Invesco Financial Preferred ETF (Fund) is based on the ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index (Index). The Fund generally will invest at least 90% of its total assets in fixed rate U.S. dollar preferred securities issued in the U.S. domestic market by financial companies. The Index is designed to track the performance of exchange-listed fixed rate U.S. dollar preferred securities, and securities that the Index Provider believes are functionally equivalent to preferred securities issued by US financial companies, such as banking, brokerage, finance, investment and insurance . The Fund and the Index are rebalanced monthly. Effective the close of markets on June 30, 2021, the Funds underlying index, index provider, objective and strategy changed. The underlying index changed from the Wells Fargo Hybrid and Preferred Securities Financial Index to the ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index; the index provider changed from Wells Fargo Securities, LLC to ICE Data Indices.
Invesco Financial Preferred ETF trades on the ARCA stock market under the symbol PGF.
As of March 28, 2024, PGF stock price declined to $15.24 with 84,609 million shares trading.
PGF has a beta of 0.65, meaning it tends to be less sensitive to market movements. PGF has a correlation of 0.32 to the broad based SPY ETF.
PGF has a market cap of $937.26 million. This is considered a Small Cap stock.
In the last 3 years, PGF stock traded as high as $19.38 and as low as $13.03.
PGF has underperformed the market in the last year with a price return of +13.3% while the SPY ETF gained +33.6%. PGF has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +4.7% and +0.2%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
PGF support price is $15.24 and resistance is $15.40 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PGF stock will trade within this expected range on the day.