PGX Stock Summary and Trading Ideas (Invesco Preferred ETF | ARCA:PGX)

The Invesco Preferred ETF is based on The ICE BofAML Core Plus Fixed Rate Preferred Securities Index. The Fund will normally invest at least 80% of its total assets in fixed rate US dollar-denominated preferred securities that comprise the Index. The Index tracks the performance of fixed rate US dollar-denominated preferred securities issued in the US domestic market. (Securities must be rated at least B3, based on an average of three leading ratings agencies: Moody s, S&P and Fitch) and must have an investment-grade country risk profile (based on an average of Moody s, S&P and Fitch foreign currency long-term sovereign debt ratings). The Fund and the Index are rebalanced and reconstituted on a monthly basis.

Invesco Preferred ETF trades on the ARCA stock market under the symbol PGX.

As of April 24, 2024, PGX stock price declined to $11.52 with 2,714,492 million shares trading.

PGX has a beta of 0.70, meaning it tends to be less sensitive to market movements. PGX has a correlation of 0.37 to the broad based SPY ETF.

PGX has a market cap of $4.32 billion. This is considered a Mid Cap stock.

In the last 3 years, PGX stock traded as high as $15.37 and as low as $10.14.

PGX has underperformed the market in the last year with a return of +4.9%, while the SPY ETF gained +24.1%. In the last 3 month period, PGX fell short of the market, returning +0.3%, while SPY returned +4.5%. However, in the most recent 2 weeks PGX has outperformed the stock market by returning -0.6%, while SPY returned -1.7%.

PGX support price is $11.44 and resistance is $11.62 (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 PGX stock will trade within this expected range on the day.