Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sets New 52-Week High – Should You Buy?

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

Invesco Aerospace & Defense ETF Price Performance

The company has a fifty day moving average of $155.43 and a 200-day moving average of $151.63. The firm has a market cap of $7.78 billion, a P/E ratio of 30.91 and a beta of 0.87.

Institutional Trading of Invesco Aerospace & Defense ETF

Institutional investors have recently made changes to their positions in the company. BOK Financial Private Wealth Inc. lifted its position in shares of Invesco Aerospace & Defense ETF by 84.2% during the third quarter. BOK Financial Private Wealth Inc. now owns 175 shares of the company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Evolution Wealth Management Inc. bought a new stake in Invesco Aerospace & Defense ETF in the 2nd quarter worth about $26,000. Briaud Financial Planning Inc purchased a new stake in Invesco Aerospace & Defense ETF in the 2nd quarter valued at about $27,000. Binnacle Investments Inc lifted its position in shares of Invesco Aerospace & Defense ETF by 84.2% during the 2nd quarter. Binnacle Investments Inc now owns 210 shares of the company’s stock worth $30,000 after buying an additional 96 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Invesco Aerospace & Defense ETF during the 2nd quarter worth approximately $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.