Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sets New 52-Week High – Should You Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $160.39 and last traded at $159.6130, with a volume of 44580 shares changing hands. The stock had previously closed at $159.62.

Invesco Aerospace & Defense ETF Stock Performance

The stock has a 50 day moving average of $153.35 and a 200-day moving average of $148.82. The company has a market cap of $6.96 billion, a PE ratio of 30.91 and a beta of 0.87.

Institutional Investors Weigh In On Invesco Aerospace & Defense ETF

A number of institutional investors and hedge funds have recently modified their holdings of PPA. Bank of America Corp DE increased its holdings in Invesco Aerospace & Defense ETF by 2.3% in the 3rd quarter. Bank of America Corp DE now owns 7,668,214 shares of the company’s stock worth $1,192,024,000 after buying an additional 173,290 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Invesco Aerospace & Defense ETF by 533.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 190,000 shares of the company’s stock valued at $29,536,000 after acquiring an additional 160,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Invesco Aerospace & Defense ETF in the second quarter worth $20,984,000. Ameriprise Financial Inc. raised its holdings in shares of Invesco Aerospace & Defense ETF by 43.6% during the third quarter. Ameriprise Financial Inc. now owns 400,922 shares of the company’s stock worth $62,303,000 after purchasing an additional 121,776 shares during the last quarter. Finally, Quaker Wealth Management LLC raised its holdings in shares of Invesco Aerospace & Defense ETF by 202.4% during the second quarter. Quaker Wealth Management LLC now owns 52,694 shares of the company’s stock worth $7,466,000 after purchasing an additional 104,139 shares during the last quarter.

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. The modified market-cap portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.