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

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

Invesco Aerospace & Defense ETF Price Performance

The business has a fifty day simple moving average of $111.70 and a two-hundred day simple moving average of $106.28. The company has a market cap of $3.68 billion, a PE ratio of 33.87 and a beta of 0.73.

Institutional Trading of Invesco Aerospace & Defense ETF

A number of hedge funds have recently bought and sold shares of PPA. Cetera Investment Advisers increased its position in shares of Invesco Aerospace & Defense ETF by 1,146.0% during the first quarter. Cetera Investment Advisers now owns 225,518 shares of the company’s stock worth $22,906,000 after purchasing an additional 207,419 shares in the last quarter. LPL Financial LLC increased its position in shares of Invesco Aerospace & Defense ETF by 15.6% during the second 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. National Bank of Canada FI increased its position in shares of Invesco Aerospace & Defense ETF by 62.9% during the second quarter. National Bank of Canada FI now owns 179,419 shares of the company’s stock worth $18,287,000 after purchasing an additional 69,290 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Invesco Aerospace & Defense ETF by 250.9% during the first quarter. Cetera Advisors LLC now owns 93,575 shares of the company’s stock worth $9,504,000 after purchasing an additional 66,907 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Invesco Aerospace & Defense ETF by 255.4% in the 1st quarter. Perigon Wealth Management LLC now owns 77,405 shares of the company’s stock valued at $7,862,000 after acquiring an additional 55,628 shares during the period.

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.