Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Jumps 1.4% – Still a Buy?

Invesco Food & Beverage ETF (NYSEARCA:PBJ) traded up 1.4% on Monday. The company traded as high as $48.37 and last traded at $48.34. Approximately 7,747 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 21,426 shares. The stock had previously closed at $47.69.

Invesco Food & Beverage ETF Price Performance

The firm has a market capitalization of $107.80 million, a PE ratio of 19.85 and a beta of 0.49. The company has a 50-day moving average price of $46.94 and a 200-day moving average price of $48.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Invesco Food & Beverage ETF by 60.6% during the first quarter. Bank of America Corp DE now owns 84,716 shares of the company’s stock worth $4,148,000 after buying an additional 31,967 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Invesco Food & Beverage ETF in the third quarter valued at approximately $770,000. Commonwealth Equity Services LLC purchased a new position in shares of Invesco Food & Beverage ETF during the third quarter valued at approximately $686,000. Wedbush Securities Inc. purchased a new position in shares of Invesco Food & Beverage ETF during the third quarter valued at approximately $393,000. Finally, Mainsail Financial Group LLC lifted its stake in shares of Invesco Food & Beverage ETF by 6.6% during the third quarter. Mainsail Financial Group LLC now owns 135,423 shares of the company’s stock valued at $6,065,000 after buying an additional 8,380 shares during the period.

About Invesco Food & Beverage ETF

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.