Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Hits New 12-Month High – Should You Buy?
by Sarita Garza · The Markets DailyShares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $181.78 and last traded at $180.49, with a volume of 113933 shares. The stock had previously closed at $178.67.
Invesco Aerospace & Defense ETF Stock Up 0.7%
The firm has a fifty day moving average of $168.67 and a 200-day moving average of $157.38. The firm has a market cap of $8.06 billion, a P/E ratio of 30.91 and a beta of 0.87.
Hedge Funds Weigh In On Invesco Aerospace & Defense ETF
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in shares of Invesco Aerospace & Defense ETF by 0.4% during the 4th quarter. Bank of Montreal Can now owns 13,265 shares of the company’s stock worth $2,078,000 after buying an additional 58 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Invesco Aerospace & Defense ETF by 0.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,481 shares of the company’s stock worth $1,328,000 after acquiring an additional 60 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Invesco Aerospace & Defense ETF by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 11,237 shares of the company’s stock worth $1,760,000 after acquiring an additional 61 shares during the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Invesco Aerospace & Defense ETF by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 2,731 shares of the company’s stock worth $428,000 after acquiring an additional 62 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of Invesco Aerospace & Defense ETF by 3.0% in the fourth quarter. Vontobel Holding Ltd. now owns 2,134 shares of the company’s stock valued at $334,000 after purchasing an additional 63 shares during the last quarter.
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.