Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sees Large Decline in Short Interest

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 60,695 shares, a drop of 59.8% from the December 15th total of 150,933 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 137,951 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 137,951 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Invesco Aerospace & Defense ETF Stock Performance

Shares of NYSEARCA PPA traded up $1.67 during trading on Wednesday, hitting $176.98. 367,903 shares of the company traded hands, compared to its average volume of 396,918. The business’s fifty day moving average is $155.89 and its 200 day moving average is $151.81. Invesco Aerospace & Defense ETF has a fifty-two week low of $100.39 and a fifty-two week high of $177.06. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 30.91 and a beta of 0.87.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PPA. Bank of America Corp DE grew its stake 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 acquiring an additional 173,290 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Invesco Aerospace & Defense ETF by 533.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 190,000 shares of the company’s stock worth $29,536,000 after purchasing an additional 160,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Invesco Aerospace & Defense ETF in the 2nd quarter valued at $20,984,000. Ameriprise Financial Inc. increased its stake in Invesco Aerospace & Defense ETF by 43.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 400,922 shares of the company’s stock valued at $62,303,000 after purchasing an additional 121,776 shares in the last quarter. Finally, Quaker Wealth Management LLC increased its stake in Invesco Aerospace & Defense ETF by 202.4% during the 2nd quarter. Quaker Wealth Management LLC now owns 52,694 shares of the company’s stock valued at $7,466,000 after purchasing an additional 104,139 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. 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.