Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Shares Up 0.6% – Time to Buy?

Shares of Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) shot up 0.6% on Thursday . The company traded as high as $94.06 and last traded at $93.01. Approximately 9,197 shares changed hands during trading, an increase of 30% from the average session volume of 7,091 shares. The stock had previously closed at $92.45.

Invesco Biotechnology & Genome ETF Stock Performance

The stock has a market cap of $284.45 million, a P/E ratio of 20.44 and a beta of 0.70. The firm has a 50-day moving average price of $84.96 and a 200-day moving average price of $82.31.

Hedge Funds Weigh In On Invesco Biotechnology & Genome ETF

A number of institutional investors have recently added to or reduced their stakes in PBE. Royal Bank of Canada lifted its position in Invesco Biotechnology & Genome ETF by 22.3% during the first quarter. Royal Bank of Canada now owns 75,402 shares of the company’s stock valued at $4,783,000 after buying an additional 13,767 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Invesco Biotechnology & Genome ETF by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,657 shares of the company’s stock worth $2,389,000 after buying an additional 2,103 shares during the period. Osaic Holdings Inc. grew its position in shares of Invesco Biotechnology & Genome ETF by 9.9% in the 2nd quarter. Osaic Holdings Inc. now owns 9,441 shares of the company’s stock worth $605,000 after buying an additional 852 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Invesco Biotechnology & Genome ETF by 74.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 574 shares of the company’s stock worth $40,000 after acquiring an additional 245 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Invesco Biotechnology & Genome ETF by 150.0% in the 3rd quarter. Blair William & Co. IL now owns 1,000 shares of the company’s stock worth $70,000 after acquiring an additional 600 shares in the last quarter.

About Invesco Biotechnology & Genome ETF

PowerShares Dynamic Biotechnology & Genome Portfolio (the Fund) is based on the Dynamic Biotechnology & Genome Intellidex Index (the Index). The Fund seeks investment results that correspond generally to the price and yield of the Index. The Index consists of stocks of 30 the United States biotechnology and genome companies. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.