Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Strong Trading Volume – Should You Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) shares saw an uptick in trading volume on Tuesday. 90,252 shares were traded during mid-day trading, an increase of 154% from the previous session’s volume of 35,574 shares. The stock last traded at $125.4450 and had previously closed at $127.11.

Invesco Pharmaceuticals ETF Stock Performance

The firm has a market capitalization of $562.60 million, a price-to-earnings ratio of 15.59 and a beta of 0.45. The company has a fifty day moving average of $125.67 and a two-hundred day moving average of $114.80.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its holdings in shares of Invesco Pharmaceuticals ETF by 31.3% during the 4th quarter. IFP Advisors Inc now owns 440 shares of the company’s stock valued at $46,000 after acquiring an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Invesco Pharmaceuticals ETF by 20.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the company’s stock worth $129,000 after purchasing an additional 209 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Invesco Pharmaceuticals ETF by 24.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,722 shares of the company’s stock worth $179,000 after purchasing an additional 335 shares in the last quarter. Fifth Third Bancorp acquired a new position in Invesco Pharmaceuticals ETF in the 1st quarter worth about $36,000. Finally, Global Assets Advisory LLC bought a new position in Invesco Pharmaceuticals ETF in the first quarter valued at about $42,000.

Invesco Pharmaceuticals ETF Company Profile

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.