Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Reaches New 52-Week High at $112.39

Shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $112.39 and last traded at $112.30, with a volume of 11225 shares. The stock had previously closed at $111.29.

Invesco Aerospace & Defense ETF Stock Up 0.7 %

The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 33.87 and a beta of 0.73. The firm has a fifty day moving average of $106.18 and a 200-day moving average of $102.70.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPA. LPL Financial LLC increased its stake 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 worth $141,014,000 after purchasing an additional 184,961 shares in the last quarter. Summit Trail Advisors LLC increased its position in Invesco Aerospace & Defense ETF by 4.8% during the 4th quarter. Summit Trail Advisors LLC now owns 623,691 shares of the company’s stock worth $57,479,000 after purchasing an additional 28,557 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in Invesco Aerospace & Defense ETF by 2.8% in the 2nd quarter. Miracle Mile Advisors LLC now owns 581,554 shares of the company’s stock valued at $59,737,000 after purchasing an additional 15,567 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Invesco Aerospace & Defense ETF by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 469,209 shares of the company’s stock valued at $43,242,000 after purchasing an additional 114,843 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Invesco Aerospace & Defense ETF by 6.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 336,088 shares of the company’s stock worth $34,523,000 after purchasing an additional 20,857 shares during 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.