Invesco Food & Beverage ETF (NYSEARCA:PBJ) Trading 0.4% Higher – Here’s Why

Invesco Food & Beverage ETF (NYSEARCA:PBJ) was up 0.4% during mid-day trading on Monday . The stock traded as high as $49.01 and last traded at $48.61. Approximately 11,513 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 19,704 shares. The stock had previously closed at $48.42.

Invesco Food & Beverage ETF Trading Up 0.4%

The stock has a 50 day moving average of $47.98 and a 200-day moving average of $48.23. The stock has a market capitalization of $109.86 million, a P/E ratio of 19.85 and a beta of 0.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in Invesco Food & Beverage ETF by 21.4% in the first quarter. Royal Bank of Canada now owns 18,163 shares of the company’s stock valued at $835,000 after purchasing an additional 3,207 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Invesco Food & Beverage ETF by 231.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,789 shares of the company’s stock valued at $128,000 after purchasing an additional 1,948 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Invesco Food & Beverage ETF by 32.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 40,282 shares of the company’s stock valued at $1,852,000 after purchasing an additional 9,811 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Invesco Food & Beverage ETF by 83.1% in the second quarter. Bank of America Corp DE now owns 77,833 shares of the company’s stock worth $3,683,000 after buying an additional 35,327 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Invesco Food & Beverage ETF during the third quarter worth $835,000.

Invesco Food & Beverage ETF Company Profile

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.