Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Short Interest Up 188.5% in May

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 181,487 shares, a growth of 188.5% from the May 14th total of 62,915 shares. Based on an average daily volume of 221,077 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco Aerospace & Defense ETF by 2,760.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,817,263 shares of the company’s stock worth $441,268,000 after acquiring an additional 2,718,777 shares during the period. Bank of America Corp DE increased its stake in shares of Invesco Aerospace & Defense ETF by 2.3% in the third quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock worth $1,192,024,000 after acquiring an additional 173,290 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Invesco Aerospace & Defense ETF by 533.3% in the third quarter. BNP Paribas Financial Markets now owns 190,000 shares of the company’s stock worth $29,536,000 after acquiring an additional 160,000 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Invesco Aerospace & Defense ETF by 43.6% in the third quarter. Ameriprise Financial Inc. now owns 400,922 shares of the company’s stock worth $62,303,000 after acquiring an additional 121,776 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Invesco Aerospace & Defense ETF in the third quarter worth $15,257,000.

Invesco Aerospace & Defense ETF Price Performance

Invesco Aerospace & Defense ETF stock traded down $2.19 during mid-day trading on Friday, reaching $174.13. 214,251 shares of the company traded hands, compared to its average volume of 292,528. Invesco Aerospace & Defense ETF has a fifty-two week low of $133.95 and a fifty-two week high of $186.30. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 30.91 and a beta of 0.73. The firm’s fifty day moving average is $170.92 and its two-hundred day moving average is $169.21.

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.