Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Shares of Invesco Food & Beverage ETF (NYSEARCA:PBJ – Get Free Report) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $48.19 and traded as low as $47.52. Invesco Food & Beverage ETF shares last traded at $47.52, with a volume of 73,780 shares.

Invesco Food & Beverage ETF Price Performance

The stock’s 50 day simple moving average is $46.90 and its two-hundred day simple moving average is $48.19. The stock has a market cap of $105.97 million, a P/E ratio of 20.08 and a beta of 0.49.

Institutional Investors Weigh In On Invesco Food & Beverage ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PBJ. Mainsail Financial Group LLC boosted its stake in Invesco Food & Beverage ETF by 6.6% in the 3rd quarter. Mainsail Financial Group LLC now owns 135,423 shares of the company’s stock worth $6,065,000 after purchasing an additional 8,380 shares during the period. Bank of America Corp DE raised its stake in shares of Invesco Food & Beverage ETF by 60.6% in the 1st quarter. Bank of America Corp DE now owns 84,716 shares of the company’s stock valued at $4,148,000 after purchasing an additional 31,967 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Invesco Food & Beverage ETF in the 3rd quarter valued at about $770,000. Commonwealth Equity Services LLC acquired a new stake in shares of Invesco Food & Beverage ETF in the 3rd quarter valued at about $686,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Invesco Food & Beverage ETF in the third quarter valued at about $393,000.

About Invesco Food & Beverage ETF

(Get Free Report)

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.

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