Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sets New 1-Year High – Still a Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) shares reached a new 52-week high on Wednesday . The stock traded as high as $176.50 and last traded at $175.31, with a volume of 310599 shares traded. The stock had previously closed at $174.59.

Invesco Aerospace & Defense ETF Trading Up 1.1%

The company has a market cap of $7.94 billion, a price-to-earnings ratio of 30.91 and a beta of 0.87. The firm’s fifty day moving average price is $156.41 and its 200-day moving average price is $151.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. bought a new position in shares of Invesco Aerospace & Defense ETF during the 2nd quarter valued at about $26,000. Briaud Financial Planning Inc bought a new position in Invesco Aerospace & Defense ETF in the second quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. boosted its holdings in shares of Invesco Aerospace & Defense ETF by 84.2% in the third quarter. BOK Financial Private Wealth Inc. now owns 175 shares of the company’s stock valued at $27,000 after buying an additional 80 shares during the period. Binnacle Investments Inc increased its position in shares of Invesco Aerospace & Defense ETF by 84.2% during the second quarter. Binnacle Investments Inc now owns 210 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Invesco Aerospace & Defense ETF during the second quarter worth $43,000.

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.