Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Hits New 52-Week High – Should You Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $120.16 and last traded at $120.05, with a volume of 10660 shares changing hands. The stock had previously closed at $119.29.

Invesco Aerospace & Defense ETF Trading Up 0.5 %

The stock has a fifty day moving average price of $113.03 and a 200-day moving average price of $106.91. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.87 and a beta of 0.73.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Several institutional investors have recently bought and sold shares of the business. Beacon Capital Management LLC raised its stake in shares of Invesco Aerospace & Defense ETF by 31.6% in the first quarter. Beacon Capital Management LLC now owns 416 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. Signaturefd LLC boosted its position in Invesco Aerospace & Defense ETF by 19.2% in the 2nd quarter. Signaturefd LLC now owns 664 shares of the company’s stock valued at $68,000 after buying an additional 107 shares during the last quarter. New Century Financial Group LLC increased its stake in shares of Invesco Aerospace & Defense ETF by 1.2% in the 3rd quarter. New Century Financial Group LLC now owns 10,010 shares of the company’s stock valued at $1,151,000 after buying an additional 117 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Invesco Aerospace & Defense ETF by 2.0% in the 1st quarter. Arkadios Wealth Advisors now owns 7,269 shares of the company’s stock valued at $738,000 after buying an additional 140 shares during the period. Finally, Bright Futures Wealth Management LLC. lifted its stake in shares of Invesco Aerospace & Defense ETF by 1.8% during the second quarter. Bright Futures Wealth Management LLC. now owns 8,635 shares of the company’s stock valued at $909,000 after acquiring an additional 155 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.