Invesco Food & Beverage ETF (NYSEARCA:PBJ) Shares Up 0.7% – Here’s Why

Invesco Food & Beverage ETF (NYSEARCA:PBJ)’s stock price was up 0.7% during trading on Thursday . The stock traded as high as $49.10 and last traded at $49.08. Approximately 21,036 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 21,566 shares. The stock had previously closed at $48.75.

Invesco Food & Beverage ETF Stock Performance

The company’s 50 day simple moving average is $49.44 and its 200 day simple moving average is $46.80. The stock has a market cap of $91.37 million, a PE ratio of 19.85 and a beta of 0.52.

Hedge Funds Weigh In On Invesco Food & Beverage ETF

A number of hedge funds have recently modified their holdings of PBJ. Sound Income Strategies LLC purchased a new position in shares of Invesco Food & Beverage ETF in the fourth quarter valued at about $40,000. Advisory Services Network LLC bought a new stake in shares of Invesco Food & Beverage ETF during the 3rd quarter valued at about $80,000. Kestra Advisory Services LLC bought a new stake in shares of Invesco Food & Beverage ETF during the 4th quarter valued at about $83,000. Jones Financial Companies Lllp boosted its stake in shares of Invesco Food & Beverage ETF by 231.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,789 shares of the company’s stock valued at $128,000 after purchasing an additional 1,948 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in shares of Invesco Food & Beverage ETF during the 4th quarter valued at about $248,000.

Invesco Food & Beverage ETF Company Profile

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. 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.