Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $159.66 and traded as high as $162.13. Invesco Aerospace & Defense ETF shares last traded at $160.93, with a volume of 238,965 shares trading hands.

Invesco Aerospace & Defense ETF Stock Performance

The business’s 50 day moving average is $159.66 and its 200 day moving average is $170.71. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 30.91 and a beta of 0.75.

Institutional Trading of Invesco Aerospace & Defense ETF

Several hedge funds and other institutional investors have recently modified their holdings of PPA. Envestnet Asset Management Inc. grew its stake in shares of Invesco Aerospace & Defense ETF by 9.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 241,110 shares of the company’s stock valued at $42,592,000 after buying an additional 20,102 shares in the last quarter. Susquehanna International Group LLP raised its position in Invesco Aerospace & Defense ETF by 398.4% during the second quarter. Susquehanna International Group LLP now owns 28,180 shares of the company’s stock valued at $4,978,000 after acquiring an additional 22,526 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Invesco Aerospace & Defense ETF in the first quarter valued at approximately $601,000. Florida Financial Advisors LLC lifted its stake in Invesco Aerospace & Defense ETF by 72.8% in the first quarter. Florida Financial Advisors LLC now owns 7,094 shares of the company’s stock valued at $1,176,000 after acquiring an additional 2,988 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its position in Invesco Aerospace & Defense ETF by 136.8% in the first quarter. Kestra Advisory Services LLC now owns 153,727 shares of the company’s stock worth $25,473,000 after acquiring an additional 88,795 shares in the last quarter.

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.