Invesco Food & Beverage ETF (NYSEARCA:PBJ) Shares Down 1.4% – Here’s Why

Invesco Food & Beverage ETF (NYSEARCA:PBJ)’s share price fell 1.4% during trading on Monday . The company traded as low as $45.91 and last traded at $45.91. Approximately 10,902 shares changed hands during trading, a decline of 48% from the average daily volume of 20,816 shares. The stock had previously closed at $46.54.

Invesco Food & Beverage ETF Stock Performance

The company’s fifty day moving average is $47.82 and its two-hundred day moving average is $48.27. The company has a market cap of $84.94 million, a price-to-earnings ratio of 19.85 and a beta of 0.48.

Institutional Investors Weigh In On Invesco Food & Beverage ETF

Hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC grew its holdings in Invesco Food & Beverage ETF by 720.5% during the first quarter. Kestra Advisory Services LLC now owns 15,154 shares of the company’s stock worth $742,000 after acquiring an additional 13,307 shares during the period. Bank of America Corp DE grew its stake in shares of Invesco Food & Beverage ETF by 60.6% during the 1st quarter. Bank of America Corp DE now owns 84,716 shares of the company’s stock worth $4,148,000 after purchasing an additional 31,967 shares during the period. Compass Financial Management LLC purchased a new position in shares of Invesco Food & Beverage ETF during the 2nd quarter valued at approximately $224,000. Janney Montgomery Scott LLC acquired a new position in shares of Invesco Food & Beverage ETF in the 1st quarter valued at $202,000. Finally, Howe & Rusling Inc. boosted its holdings in Invesco Food & Beverage ETF by 1.5% during the first quarter. Howe & Rusling Inc. now owns 42,967 shares of the company’s stock worth $2,104,000 after buying an additional 640 shares in the last quarter.

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.