Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Hits New 52-Week High at $101.18

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $101.18 and last traded at $100.96, with a volume of 23109 shares. The stock had previously closed at $100.19.

Invesco Aerospace & Defense ETF Stock Performance

The firm has a 50 day moving average of $95.99 and a 200-day moving average of $89.21. The stock has a market capitalization of $2.38 billion, a PE ratio of 24.91 and a beta of 0.98.

Institutional Investors Weigh In On Invesco Aerospace & Defense ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PPA. JPMorgan Chase & Co. raised its stake in shares of Invesco Aerospace & Defense ETF by 8,435.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,414 shares of the company’s stock worth $267,000 after purchasing an additional 3,374 shares in the last quarter. Raymond James & Associates raised its stake in shares of Invesco Aerospace & Defense ETF by 11.9% in the 1st quarter. Raymond James & Associates now owns 18,515 shares of the company’s stock valued at $1,450,000 after acquiring an additional 1,969 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Invesco Aerospace & Defense ETF in the 1st quarter valued at approximately $410,000. Bank of Montreal Can bought a new position in shares of Invesco Aerospace & Defense ETF in the 1st quarter valued at approximately $1,091,000. Finally, Cibc World Market Inc. bought a new position in shares of Invesco Aerospace & Defense ETF in the 1st quarter valued at approximately $705,000.

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.