Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Reaches New 52-Week High – Here’s Why

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $133.38 and last traded at $132.04, with a volume of 149501 shares trading hands. The stock had previously closed at $132.60.

Invesco Aerospace & Defense ETF Stock Performance

The company’s fifty day simple moving average is $120.51 and its two-hundred day simple moving average is $118.81. The stock has a market capitalization of $5.22 billion, a PE ratio of 29.83 and a beta of 0.84.

Institutional Investors Weigh In On Invesco Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently modified their holdings of PPA. Janney Montgomery Scott LLC grew its holdings in shares of Invesco Aerospace & Defense ETF by 7.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,667 shares of the company’s stock worth $10,517,000 after buying an additional 6,648 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of Invesco Aerospace & Defense ETF by 5.0% in the fourth quarter. Mutual Advisors LLC now owns 3,177 shares of the company’s stock worth $377,000 after acquiring an additional 152 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Invesco Aerospace & Defense ETF by 9.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,608 shares of the company’s stock worth $299,000 after acquiring an additional 228 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Invesco Aerospace & Defense ETF by 106.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,055 shares of the company’s stock worth $924,000 after acquiring an additional 4,155 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Invesco Aerospace & Defense ETF during the fourth quarter valued at approximately $299,000.

Invesco Aerospace & Defense ETF Company Profile

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.