Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Reaches New 1-Year High – Still a Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $117.70 and last traded at $117.70, with a volume of 1360 shares changing hands. The stock had previously closed at $117.64.

Invesco Aerospace & Defense ETF Stock Performance

The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 33.87 and a beta of 0.73. The company’s 50 day simple moving average is $111.70 and its 200 day simple moving average is $106.28.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Several large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Invesco Aerospace & Defense ETF in the 2nd quarter worth approximately $42,000. Beacon Capital Management LLC boosted its holdings 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 buying an additional 100 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of Invesco Aerospace & Defense ETF in the fourth quarter worth about $44,000. EverSource Wealth Advisors LLC acquired a new position in shares of Invesco Aerospace & Defense ETF in the first quarter worth about $54,000. Finally, ORG Partners LLC boosted its holdings in shares of Invesco Aerospace & Defense ETF by 2,650.0% in the third quarter. ORG Partners LLC now owns 550 shares of the company’s stock worth $63,000 after buying an additional 530 shares during the period.

Invesco Aerospace & Defense ETF Company Profile

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.