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

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $160.85 and last traded at $160.9940, with a volume of 298723 shares. The stock had previously closed at $156.63.

Invesco Aerospace & Defense ETF Stock Up 2.9%

The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 30.91 and a beta of 0.87. The company’s fifty day moving average is $153.78 and its two-hundred day moving average is $149.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PPA. Bank of America Corp DE increased its holdings in Invesco Aerospace & Defense ETF by 2.3% in the third quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock valued at $1,192,024,000 after purchasing an additional 173,290 shares during the last quarter. UBS Group AG grew its position in shares of Invesco Aerospace & Defense ETF by 5.9% during the 3rd quarter. UBS Group AG now owns 825,841 shares of the company’s stock worth $128,377,000 after buying an additional 46,319 shares during the period. HighTower Advisors LLC grew its position in shares of Invesco Aerospace & Defense ETF by 8.2% during the 3rd quarter. HighTower Advisors LLC now owns 536,086 shares of the company’s stock worth $83,338,000 after buying an additional 40,640 shares during the period. Raymond James Financial Inc. increased its stake in shares of Invesco Aerospace & Defense ETF by 4.8% in the 3rd quarter. Raymond James Financial Inc. now owns 460,471 shares of the company’s stock valued at $71,580,000 after acquiring an additional 20,948 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Invesco Aerospace & Defense ETF by 43.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 400,922 shares of the company’s stock valued at $62,303,000 after acquiring an additional 121,776 shares during the period.

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.