Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sees Significant Growth in Short Interest

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 123,176 shares, a growth of 102.9% from the December 31st total of 60,695 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 452,484 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 452,484 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PPA. M&T Bank Corp raised its stake in shares of Invesco Aerospace & Defense ETF by 3.9% during the fourth quarter. M&T Bank Corp now owns 5,711 shares of the company’s stock worth $895,000 after purchasing an additional 216 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Invesco Aerospace & Defense ETF by 50.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 12,176 shares of the company’s stock worth $1,907,000 after buying an additional 4,105 shares during the last quarter. High Point Wealth Management LLC acquired a new stake in shares of Invesco Aerospace & Defense ETF in the 4th quarter worth $41,000. Sanctuary Advisors LLC boosted its holdings in shares of Invesco Aerospace & Defense ETF by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 11,237 shares of the company’s stock valued at $1,760,000 after acquiring an additional 61 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in Invesco Aerospace & Defense ETF by 2.3% during the fourth quarter. Advisors Capital Management LLC now owns 2,731 shares of the company’s stock worth $428,000 after purchasing an additional 62 shares in the last quarter.

Invesco Aerospace & Defense ETF Stock Performance

PPA stock traded down $1.98 during midday trading on Friday, reaching $173.70. The stock had a trading volume of 88,973 shares, compared to its average volume of 366,540. The firm has a fifty day simple moving average of $161.69 and a two-hundred day simple moving average of $154.49. Invesco Aerospace & Defense ETF has a 52-week low of $100.39 and a 52-week high of $181.31. The stock has a market cap of $7.74 billion, a PE ratio of 30.91 and a beta of 0.87.

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. The modified market-cap portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.