Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $118.18 and traded as low as $114.41. Invesco Aerospace & Defense ETF shares last traded at $114.73, with a volume of 178,748 shares.

Invesco Aerospace & Defense ETF Stock Up 1.1 %

The stock has a market capitalization of $3.60 billion, a P/E ratio of 33.87 and a beta of 0.73. The firm’s 50-day simple moving average is $118.14 and its 200 day simple moving average is $112.66.

Institutional Trading of Invesco Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC boosted its position in shares of Invesco Aerospace & Defense ETF by 1.5% in the 3rd quarter. LPL Financial LLC now owns 1,392,972 shares of the company’s stock valued at $160,150,000 after purchasing an additional 20,169 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of Invesco Aerospace & Defense ETF by 3.3% during the third quarter. Axxcess Wealth Management LLC now owns 347,210 shares of the company’s stock valued at $39,919,000 after acquiring an additional 11,122 shares during the period. Raymond James & Associates lifted its position in shares of Invesco Aerospace & Defense ETF by 20.8% in the 3rd quarter. Raymond James & Associates now owns 292,618 shares of the company’s stock valued at $33,642,000 after acquiring an additional 50,360 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Invesco Aerospace & Defense ETF by 10,225.1% in the 3rd quarter. International Assets Investment Management LLC now owns 278,674 shares of the company’s stock worth $32,039,000 after purchasing an additional 275,975 shares during the period. Finally, Cetera Investment Advisers grew its position in Invesco Aerospace & Defense ETF by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 244,062 shares of the company’s stock worth $25,070,000 after purchasing an additional 18,544 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.