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

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 181,487 shares, a growth of 188.5% from the May 14th total of 62,915 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 221,077 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in Invesco Aerospace & Defense ETF by 2.3% in the 3rd quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock valued at $1,192,024,000 after purchasing an additional 173,290 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Invesco Aerospace & Defense ETF by 2,760.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,817,263 shares of the company’s stock valued at $441,268,000 after purchasing an additional 2,718,777 shares during the last quarter. Morgan Stanley increased its stake in shares of Invesco Aerospace & Defense ETF by 1.3% in the 4th quarter. Morgan Stanley now owns 2,143,208 shares of the company’s stock valued at $335,691,000 after buying an additional 27,624 shares during the period. LPL Financial LLC increased its stake in shares of Invesco Aerospace & Defense ETF by 3.6% in the 4th quarter. LPL Financial LLC now owns 1,729,063 shares of the company’s stock valued at $270,823,000 after buying an additional 60,321 shares during the period. Finally, UBS Group AG increased its stake in shares of Invesco Aerospace & Defense ETF by 5.9% in the 3rd quarter. UBS Group AG now owns 825,841 shares of the company’s stock valued at $128,377,000 after buying an additional 46,319 shares during the period.

Invesco Aerospace & Defense ETF Price Performance

Shares of Invesco Aerospace & Defense ETF stock traded down $2.19 during midday trading on Friday, hitting $174.13. 214,251 shares of the company were exchanged, compared to its average volume of 292,528. The firm has a market cap of $8.33 billion, a P/E ratio of 30.91 and a beta of 0.73. Invesco Aerospace & Defense ETF has a 52 week low of $133.95 and a 52 week high of $186.30. The firm has a 50 day simple moving average of $170.92 and a 200-day simple moving average of $169.21.

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.