Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Share Price Passes Below 50-Day Moving Average – Here’s Why

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $118.02 and traded as low as $113.42. Invesco Aerospace & Defense ETF shares last traded at $115.09, with a volume of 268,698 shares.

Invesco Aerospace & Defense ETF Stock Performance

The company has a market cap of $3.59 billion, a P/E ratio of 33.87 and a beta of 0.73. The firm’s fifty day moving average is $118.02 and its two-hundred day moving average is $113.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Valley Brook Capital Group Inc. boosted its holdings in shares of Invesco Aerospace & Defense ETF by 3.3% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 2,781 shares of the company’s stock valued at $320,000 after purchasing an additional 90 shares during the last quarter. XML Financial LLC raised its position in shares of Invesco Aerospace & Defense ETF by 3.0% during the 3rd quarter. XML Financial LLC now owns 3,205 shares of the company’s stock valued at $368,000 after buying an additional 92 shares in the last quarter. Carr Financial Group Corp raised its position in shares of Invesco Aerospace & Defense ETF by 1.1% during the 3rd quarter. Carr Financial Group Corp now owns 9,650 shares of the company’s stock valued at $1,109,000 after buying an additional 102 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of Invesco Aerospace & Defense ETF by 50.5% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 304 shares of the company’s stock valued at $35,000 after buying an additional 102 shares in the last quarter. Finally, National Wealth Management Group LLC raised its position in shares of Invesco Aerospace & Defense ETF by 2.2% during the 3rd quarter. National Wealth Management Group LLC now owns 5,393 shares of the company’s stock valued at $620,000 after buying an additional 116 shares in the last quarter.

Invesco Aerospace & Defense ETF Company Profile

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.