MAI Capital Management Lowers Stock Position in Invesco Aerospace & Defense ETF $PPA

MAI Capital Management cut its position in shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) by 17.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 238,497 shares of the company’s stock after selling 51,334 shares during the quarter. MAI Capital Management owned approximately 0.55% of Invesco Aerospace & Defense ETF worth $37,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Invesco Aerospace & Defense ETF by 208.6% during the first quarter. Goldman Sachs Group Inc. now owns 30,874 shares of the company’s stock valued at $3,598,000 after acquiring an additional 20,869 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Invesco Aerospace & Defense ETF by 20.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 171,559 shares of the company’s stock worth $24,308,000 after purchasing an additional 29,528 shares during the period. Quaker Wealth Management LLC boosted its holdings in shares of Invesco Aerospace & Defense ETF by 202.4% in the 2nd quarter. Quaker Wealth Management LLC now owns 52,694 shares of the company’s stock worth $7,466,000 after buying an additional 104,139 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Invesco Aerospace & Defense ETF by 199.6% during the second quarter. Flagship Harbor Advisors LLC now owns 39,803 shares of the company’s stock valued at $5,640,000 after buying an additional 26,516 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in Invesco Aerospace & Defense ETF by 27.4% during the second quarter. Arkadios Wealth Advisors now owns 10,309 shares of the company’s stock worth $1,461,000 after buying an additional 2,219 shares during the last quarter.

Invesco Aerospace & Defense ETF Stock Up 1.2%

PPA opened at $181.10 on Wednesday. Invesco Aerospace & Defense ETF has a twelve month low of $100.39 and a twelve month high of $182.44. The company’s 50-day moving average price is $170.79 and its two-hundred day moving average price is $158.39. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 30.91 and a beta of 0.87.

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.