Miracle Mile Advisors LLC Trims Stock Position in Invesco Aerospace & Defense ETF (NYSEARCA:PPA)

Miracle Mile Advisors LLC decreased its holdings in Invesco Aerospace & Defense ETF (NYSEARCA:PPA) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 533,801 shares of the company’s stock after selling 44,082 shares during the quarter. Invesco Aerospace & Defense ETF accounts for 1.2% of Miracle Mile Advisors LLC’s portfolio, making the stock its 22nd largest position. Miracle Mile Advisors LLC’s holdings in Invesco Aerospace & Defense ETF were worth $61,243,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Howe & Rusling Inc. bought a new position in Invesco Aerospace & Defense ETF in the third quarter worth approximately $27,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Invesco Aerospace & Defense ETF by 50.5% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 304 shares of the company’s stock worth $35,000 after purchasing an additional 102 shares in the last quarter. Eastern Bank bought a new position in Invesco Aerospace & Defense ETF in the 3rd quarter worth $46,000. Assetmark Inc. bought a new position in Invesco Aerospace & Defense ETF in the 3rd quarter worth $54,000. Finally, Continuum Advisory LLC lifted its position in Invesco Aerospace & Defense ETF by 47.6% during the third quarter. Continuum Advisory LLC now owns 465 shares of the company’s stock valued at $55,000 after purchasing an additional 150 shares in the last quarter.

Invesco Aerospace & Defense ETF Stock Performance

Shares of NYSEARCA PPA traded up $1.08 during trading on Monday, hitting $115.71. The company had a trading volume of 160,802 shares, compared to its average volume of 215,072. Invesco Aerospace & Defense ETF has a 12 month low of $88.87 and a 12 month high of $124.89. The firm has a market capitalization of $3.60 billion, a P/E ratio of 33.87 and a beta of 0.73. The stock has a 50 day simple moving average of $118.06 and a 200 day simple moving average of $113.27.

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.