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

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) hit a new 52-week high on Wednesday . The stock traded as high as $120.89 and last traded at $120.08, with a volume of 25193 shares changing hands. The stock had previously closed at $116.36.

Invesco Aerospace & Defense ETF Price Performance

The firm’s fifty day moving average price is $114.50 and its two-hundred day moving average price is $108.33. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 33.87 and a beta of 0.73.

Institutional Investors Weigh In On Invesco Aerospace & Defense ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Valley Wealth Managers Inc. raised its holdings in shares of Invesco Aerospace & Defense ETF by 9.6% in the 3rd quarter. Valley Wealth Managers Inc. now owns 82,679 shares of the company’s stock worth $9,506,000 after acquiring an additional 7,264 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in Invesco Aerospace & Defense ETF in the 3rd quarter worth about $208,000. Kovack Advisors Inc. grew its position in Invesco Aerospace & Defense ETF by 6.0% in the 3rd quarter. Kovack Advisors Inc. now owns 2,636 shares of the company’s stock worth $303,000 after purchasing an additional 150 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Invesco Aerospace & Defense ETF by 6.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,147 shares of the company’s stock worth $3,811,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Invesco Aerospace & Defense ETF by 2.7% in the 3rd quarter. Harbour Investments Inc. now owns 8,544 shares of the company’s stock worth $982,000 after purchasing an additional 224 shares in the last quarter.

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.