Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Trading 1% Higher – Time to Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP)’s share price was up 1% during mid-day trading on Monday . The company traded as high as $126.95 and last traded at $126.48. Approximately 17,473 shares changed hands during trading, a decline of 51% from the average daily volume of 35,334 shares. The stock had previously closed at $125.26.

Invesco Pharmaceuticals ETF Stock Performance

The firm has a fifty day moving average price of $124.81 and a 200 day moving average price of $114.07. The company has a market cap of $485.68 million, a price-to-earnings ratio of 15.59 and a beta of 0.45.

Institutional Trading of Invesco Pharmaceuticals ETF

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Invesco Pharmaceuticals ETF by 234.0% during the 1st quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock worth $7,726,000 after acquiring an additional 52,165 shares during the period. Royal Bank of Canada boosted its position in shares of Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock valued at $6,472,000 after acquiring an additional 51,619 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco Pharmaceuticals ETF by 829.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock worth $2,712,000 after purchasing an additional 23,150 shares in the last quarter. Cetera Investment Advisers grew its position in Invesco Pharmaceuticals ETF by 250.7% during the first quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock worth $2,123,000 after buying an additional 14,628 shares in the last quarter. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the 4th quarter worth $735,000.

About Invesco Pharmaceuticals ETF

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.