Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Reaches New 1-Year High – Should You Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) shares reached a new 52-week high on Wednesday . The stock traded as high as $130.50 and last traded at $130.50, with a volume of 1429 shares trading hands. The stock had previously closed at $126.15.

Invesco Pharmaceuticals ETF Stock Down 2.1%

The firm has a market cap of $494.94 million, a P/E ratio of 15.59 and a beta of 0.45. The stock’s 50-day moving average is $120.08 and its 200-day moving average is $111.19.

Institutional Investors Weigh In On Invesco Pharmaceuticals ETF

Several hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its position in Invesco Pharmaceuticals ETF by 11.6% during the first quarter. Jones Financial Companies Lllp now owns 2,428 shares of the company’s stock worth $210,000 after buying an additional 252 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Invesco Pharmaceuticals ETF in the 2nd quarter valued at approximately $799,000. Tower Research Capital LLC TRC lifted its position in shares of Invesco Pharmaceuticals ETF by 102.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,680 shares of the company’s stock worth $374,000 after acquiring an additional 2,374 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Invesco Pharmaceuticals ETF by 214.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,236 shares of the company’s stock worth $1,114,000 after acquiring an additional 8,344 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $504,000.

Invesco Pharmaceuticals ETF Company Profile

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.