Invesco Leisure and Entertainment ETF (NYSEARCA:PEJ) Trading Down 0.2% – Time to Sell?

Invesco Leisure and Entertainment ETF (NYSEARCA:PEJ) traded down 0.2% on Thursday . The stock traded as low as $59.99 and last traded at $60.43. 21,938 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 44,017 shares. The stock had previously closed at $60.58.

Invesco Leisure and Entertainment ETF Price Performance

The company has a market cap of $247.87 million, a price-to-earnings ratio of 20.24 and a beta of 1.23. The firm’s fifty day moving average price is $61.02 and its 200-day moving average price is $60.08.

Hedge Funds Weigh In On Invesco Leisure and Entertainment ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in Invesco Leisure and Entertainment ETF by 2,889.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 297,918 shares of the company’s stock worth $18,271,000 after buying an additional 287,952 shares during the period. Bank of America Corp DE grew its stake in shares of Invesco Leisure and Entertainment ETF by 1.8% in the third quarter. Bank of America Corp DE now owns 203,925 shares of the company’s stock valued at $12,354,000 after acquiring an additional 3,515 shares in the last quarter. Prudential PLC increased its position in Invesco Leisure and Entertainment ETF by 14.5% during the second quarter. Prudential PLC now owns 202,100 shares of the company’s stock worth $11,499,000 after acquiring an additional 25,600 shares during the period. Goldman Sachs Group Inc. raised its stake in Invesco Leisure and Entertainment ETF by 493.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 185,696 shares of the company’s stock worth $9,034,000 after purchasing an additional 154,420 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Invesco Leisure and Entertainment ETF by 301.1% in the first quarter. Royal Bank of Canada now owns 81,098 shares of the company’s stock valued at $3,946,000 after buying an additional 60,881 shares in the last quarter.

About Invesco Leisure and Entertainment ETF

PowerShares Dynamic Leisure and Entertainment Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Leisure and Entertainment Intellidex Index (the Index). The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States leisure and entertainment companies.