Element Wealth LLC Sells 839 Shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP)

Element Wealth LLC trimmed its position in shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,570 shares of the company’s stock after selling 839 shares during the quarter. Element Wealth LLC owned approximately 0.13% of Invesco Pharmaceuticals ETF worth $378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MGB Wealth Management LLC lifted its position in Invesco Pharmaceuticals ETF by 11.9% during the fourth quarter. MGB Wealth Management LLC now owns 21,976 shares of the company’s stock valued at $1,815,000 after buying an additional 2,345 shares during the period. Grimes & Company Inc. bought a new stake in Invesco Pharmaceuticals ETF during the fourth quarter worth about $354,000. JPMorgan Chase & Co. boosted its stake in Invesco Pharmaceuticals ETF by 241.7% during the third quarter. JPMorgan Chase & Co. now owns 4,046 shares of the company’s stock worth $352,000 after acquiring an additional 2,862 shares in the last quarter. Jane Street Group LLC purchased a new stake in Invesco Pharmaceuticals ETF in the third quarter worth about $1,163,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Invesco Pharmaceuticals ETF during the third quarter valued at approximately $402,000.

Invesco Pharmaceuticals ETF Stock Performance

PJP stock opened at $86.54 on Friday. The firm has a 50 day moving average price of $84.35 and a 200-day moving average price of $85.87. Invesco Pharmaceuticals ETF has a 52-week low of $75.33 and a 52-week high of $89.87. The firm has a market capitalization of $263.95 million, a price-to-earnings ratio of 24.54 and a beta of 0.58.

Invesco Pharmaceuticals ETF Profile

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.