Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

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 trading hands.

Invesco Aerospace & Defense ETF Trading Up 0.8 %

The firm has a market capitalization of $3.59 billion, a PE ratio of 33.87 and a beta of 0.73. The business’s 50 day simple moving average is $118.02 and its two-hundred day simple moving average is $113.04.

Institutional Investors Weigh In On Invesco Aerospace & Defense ETF

Hedge funds have recently added to or reduced their stakes in the stock. Prudential PLC bought a new stake in shares of Invesco Aerospace & Defense ETF during the 2nd quarter valued at $2,054,000. LPL Financial LLC grew its position in shares of Invesco Aerospace & Defense ETF by 15.6% during the 2nd quarter. LPL Financial LLC now owns 1,372,803 shares of the company’s stock valued at $141,014,000 after acquiring an additional 184,961 shares during the period. New England Private Wealth Advisors LLC grew its position in shares of Invesco Aerospace & Defense ETF by 0.7% during the 2nd quarter. New England Private Wealth Advisors LLC now owns 39,933 shares of the company’s stock valued at $4,102,000 after acquiring an additional 280 shares during the period. Wambolt & Associates LLC grew its position in shares of Invesco Aerospace & Defense ETF by 5.3% during the 2nd quarter. Wambolt & Associates LLC now owns 16,467 shares of the company’s stock valued at $1,680,000 after acquiring an additional 836 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Invesco Aerospace & Defense ETF by 4.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 31,165 shares of the company’s stock valued at $3,201,000 after acquiring an additional 1,235 shares during the period.

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.