Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Volume Increase – Still a Buy?

Shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw an uptick in trading volume on Tuesday . Approximately 181,236 shares traded hands during mid-day trading, an increase of 411% from the previous session’s volume of 35,453 shares.The stock last traded at $127.5350 and had previously closed at $126.48.

Invesco Pharmaceuticals ETF Stock Down 1.5%

The stock has a 50-day simple moving average of $125.20 and a two-hundred day simple moving average of $114.35. The firm has a market cap of $549.51 million, a PE ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after buying an additional 51,619 shares in the last quarter. Gilpin Wealth Management LLC bought a new position in Invesco Pharmaceuticals ETF in the fourth quarter valued at about $735,000. Bank of America Corp DE grew its holdings in Invesco Pharmaceuticals ETF by 234.0% during the first quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock valued at $7,726,000 after purchasing an additional 52,165 shares during the period. Cetera Investment Advisers raised its holdings 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 during the period. Finally, Private Advisor Group LLC purchased a new stake in Invesco Pharmaceuticals ETF in the 1st quarter worth $610,000.

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.