Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Stock Price Up 1% – Still a Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP)’s stock price shot up 1% on Monday . The stock traded as high as $126.95 and last traded at $126.48. Approximately 17,473 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 35,334 shares. The stock had previously closed at $125.26.

Invesco Pharmaceuticals ETF Stock Performance

The business’s 50-day moving average is $124.81 and its two-hundred day moving average is $114.07. The firm has a market capitalization of $485.68 million, a price-to-earnings ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PJP. Fifth Third Bancorp bought a new position in shares of Invesco Pharmaceuticals ETF in the 1st quarter valued at about $36,000. Global Assets Advisory LLC bought a new stake in Invesco Pharmaceuticals ETF during the first quarter worth about $42,000. IFP Advisors Inc raised its holdings in Invesco Pharmaceuticals ETF by 31.3% during the fourth quarter. IFP Advisors Inc now owns 440 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Invesco Pharmaceuticals ETF during the second quarter valued at approximately $55,000. Finally, Rockefeller Capital Management L.P. boosted its position in Invesco Pharmaceuticals ETF by 20.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the company’s stock valued at $129,000 after purchasing an additional 209 shares during the last quarter.

About Invesco Pharmaceuticals ETF

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates 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 pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.