Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sets New 12-Month High – Time to Buy?

Shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $169.35 and last traded at $165.06, with a volume of 359834 shares trading hands. The stock had previously closed at $168.23.

Invesco Aerospace & Defense ETF Stock Down 1.9%

The business’s 50 day moving average is $154.21 and its 200 day moving average is $150.57. The company has a market cap of $7.22 billion, a P/E ratio of 30.91 and a beta of 0.87.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Invesco Aerospace & Defense ETF by 2.3% in the 3rd quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock worth $1,192,024,000 after purchasing an additional 173,290 shares in the last quarter. BNP Paribas Financial Markets raised its stake in 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 valued at $29,536,000 after buying an additional 160,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Invesco Aerospace & Defense ETF in the second quarter worth about $20,984,000. Ameriprise Financial Inc. boosted its holdings in 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 in the last quarter. Finally, Quaker Wealth Management LLC grew its stake in shares of Invesco Aerospace & Defense ETF by 202.4% during the second quarter. Quaker Wealth Management LLC now owns 52,694 shares of the company’s stock worth $7,466,000 after acquiring an additional 104,139 shares during the last quarter.

Invesco Aerospace & Defense ETF Company Profile

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.