Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Shares Cross Above Fifty Day Moving Average – Here’s Why

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $159.66 and traded as high as $162.13. Invesco Aerospace & Defense ETF shares last traded at $160.93, with a volume of 238,965 shares traded.

Invesco Aerospace & Defense ETF Price Performance

The stock has a market capitalization of $7.61 billion, a P/E ratio of 30.91 and a beta of 0.75. The stock’s fifty day moving average is $159.66 and its 200-day moving average is $170.71.

Institutional Trading of Invesco Aerospace & Defense ETF

A number of institutional investors and hedge funds have recently made changes to their positions in PPA. Asset One Wealth Management LLC increased its holdings in shares of Invesco Aerospace & Defense ETF by 7.8% during the 3rd quarter. Asset One Wealth Management LLC now owns 21,287 shares of the company’s stock valued at $3,291,000 after acquiring an additional 1,548 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Invesco Aerospace & Defense ETF by 30.3% in the 3rd quarter. International Assets Investment Management LLC now owns 10,977 shares of the company’s stock valued at $1,708,000 after acquiring an additional 2,550 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Invesco Aerospace & Defense ETF by 6.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 174,184 shares of the company’s stock valued at $26,932,000 after acquiring an additional 9,980 shares in the last quarter. Schmidt P J Investment Management Inc. raised its stake in shares of Invesco Aerospace & Defense ETF by 12.3% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 24,599 shares of the company’s stock valued at $3,803,000 after acquiring an additional 2,688 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Invesco Aerospace & Defense ETF in the 3rd quarter worth approximately $321,000.

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.