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

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $118.02 and traded as low as $113.42. Invesco Aerospace & Defense ETF shares last traded at $115.09, with a volume of 268,698 shares traded.

Invesco Aerospace & Defense ETF Trading Down 0.4 %

The company has a market capitalization of $3.57 billion, a PE ratio of 33.87 and a beta of 0.73. The stock’s 50-day moving average is $118.06 and its two-hundred day moving average is $113.13.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Several institutional investors have recently made changes to their positions in the company. LPL Financial LLC boosted its position in Invesco Aerospace & Defense ETF by 1.5% during the third quarter. LPL Financial LLC now owns 1,392,972 shares of the company’s stock valued at $160,150,000 after purchasing an additional 20,169 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in Invesco Aerospace & Defense ETF by 3.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 347,210 shares of the company’s stock worth $39,919,000 after buying an additional 11,122 shares during the last quarter. Raymond James & Associates grew its stake in Invesco Aerospace & Defense ETF by 20.8% during the 3rd quarter. Raymond James & Associates now owns 292,618 shares of the company’s stock worth $33,642,000 after buying an additional 50,360 shares during the last quarter. International Assets Investment Management LLC increased its position in Invesco Aerospace & Defense ETF by 10,225.1% during the 3rd quarter. International Assets Investment Management LLC now owns 278,674 shares of the company’s stock valued at $32,039,000 after buying an additional 275,975 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Invesco Aerospace & Defense ETF by 8.2% in the second quarter. Cetera Investment Advisers now owns 244,062 shares of the company’s stock worth $25,070,000 after acquiring an additional 18,544 shares in the last quarter.

About Invesco Aerospace & Defense ETF

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.