Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sets New 12-Month High – Still a Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $130.50 and last traded at $130.50, with a volume of 1429 shares traded. The stock had previously closed at $126.15.

Invesco Pharmaceuticals ETF Trading Up 2.6%

The stock has a 50 day simple moving average of $119.39 and a 200-day simple moving average of $110.84. The firm has a market capitalization of $503.73 million, a P/E ratio of 15.59 and a beta of 0.45.

Institutional Trading of Invesco Pharmaceuticals ETF

Several large investors have recently added to or reduced their stakes in the business. Gilpin Wealth Management LLC bought a new stake in shares of Invesco Pharmaceuticals ETF during the 4th quarter valued at $735,000. Royal Bank of Canada lifted its holdings in Invesco Pharmaceuticals ETF by 479.8% in the 1st quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after purchasing an additional 51,619 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Invesco Pharmaceuticals ETF by 829.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock worth $2,712,000 after buying an additional 23,150 shares in the last quarter. Cetera Investment Advisers grew its stake in Invesco Pharmaceuticals ETF by 250.7% during the first quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock valued at $2,123,000 after acquiring an additional 14,628 shares in the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in Invesco Pharmaceuticals ETF in the 4th quarter valued at $502,000.

About Invesco Pharmaceuticals ETF

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.