Kovack Advisors Inc. Has $6.75 Million Position in Invesco Aerospace & Defense ETF $PPA

Kovack Advisors Inc. increased its position in shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) by 964.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,084 shares of the company’s stock after purchasing an additional 39,038 shares during the period. Kovack Advisors Inc.’s holdings in Invesco Aerospace & Defense ETF were worth $6,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Warner Group LLC acquired a new stake in Invesco Aerospace & Defense ETF during the 3rd quarter worth approximately $6,753,000. Modern Wealth Management LLC acquired a new stake in Invesco Aerospace & Defense ETF during the 3rd quarter worth approximately $13,976,000. Western Wealth Management LLC lifted its holdings in Invesco Aerospace & Defense ETF by 59.7% during the 4th quarter. Western Wealth Management LLC now owns 13,152 shares of the company’s stock worth $2,060,000 after purchasing an additional 4,917 shares during the last quarter. Bank of America Corp DE lifted its holdings in Invesco Aerospace & Defense ETF by 2.3% during the 3rd quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock worth $1,192,024,000 after purchasing an additional 173,290 shares during the last quarter. Finally, BIP Wealth LLC acquired a new stake in Invesco Aerospace & Defense ETF during the 4th quarter worth approximately $1,039,000.

Invesco Aerospace & Defense ETF Trading Up 5.2%

NYSEARCA:PPA opened at $176.32 on Friday. The stock has a market cap of $8.43 billion, a P/E ratio of 30.91 and a beta of 0.73. The stock has a 50 day simple moving average of $170.83 and a 200 day simple moving average of $169.17. Invesco Aerospace & Defense ETF has a 1-year low of $133.95 and a 1-year high of $186.30.

Invesco Aerospace & Defense ETF Company Profile

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.