Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sees Large Decline in Short Interest
by Kim Johansen · The Markets DailyInvesco Aerospace & Defense ETF (NYSEARCA:PPA – Get Free Report) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 148,300 shares, a drop of 25.9% from the February 12th total of 200,058 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 227,006 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 227,006 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.3% of the shares of the stock are short sold.
Invesco Aerospace & Defense ETF Trading Down 0.5%
Shares of NYSEARCA PPA traded down $0.85 during mid-day trading on Friday, reaching $173.23. The company had a trading volume of 330,085 shares, compared to its average volume of 339,769. The company has a 50-day moving average price of $176.54 and a two-hundred day moving average price of $161.41. The stock has a market cap of $7.76 billion, a PE ratio of 30.91 and a beta of 0.87. Invesco Aerospace & Defense ETF has a 1-year low of $100.39 and a 1-year high of $186.30.
Institutional Trading of Invesco Aerospace & Defense ETF
Several institutional investors and hedge funds have recently bought and sold shares of PPA. Evolution Wealth Management Inc. acquired a new position in shares of Invesco Aerospace & Defense ETF in the second quarter worth about $26,000. BOK Financial Private Wealth Inc. lifted its position in shares of Invesco Aerospace & Defense ETF by 84.2% in the 3rd quarter. BOK Financial Private Wealth Inc. now owns 175 shares of the company’s stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Invesco Aerospace & Defense ETF in the 4th quarter valued at approximately $28,000. Binnacle Investments Inc boosted its stake in Invesco Aerospace & Defense ETF by 84.2% in the 2nd quarter. Binnacle Investments Inc now owns 210 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the period. Finally, EPG Wealth Management LLC acquired a new position in Invesco Aerospace & Defense ETF in the 4th quarter worth approximately $31,000.
About Invesco Aerospace & Defense ETF
PowerShares Aerospace & Defense Portfolio (Fund) seeks investment results that correspond generally to the price and yield of the SPADE Defense Index (the Index). The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of the United States defense, homeland security and aerospace operations. The modified market-cap portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.