Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Shares Break Below 50-Day Moving Average – Here’s What Happened

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s share price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $171.16 and traded as low as $158.25. Invesco Aerospace & Defense ETF shares last traded at $159.09, with a volume of 216,453 shares changing hands.

Invesco Aerospace & Defense ETF Stock Performance

The company has a 50 day moving average of $170.98 and a 200 day moving average of $171.69. The firm has a market cap of $7.59 billion, a P/E ratio of 30.91 and a beta of 0.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PPA. Capital Analysts LLC raised its holdings in shares of Invesco Aerospace & Defense ETF by 4.1% during the 2nd quarter. Capital Analysts LLC now owns 1,559 shares of the company’s stock valued at $275,000 after purchasing an additional 62 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Invesco Aerospace & Defense ETF by 0.8% during the second quarter. Integrated Wealth Concepts LLC now owns 9,850 shares of the company’s stock worth $1,740,000 after buying an additional 78 shares during the last quarter. Modera Wealth Management LLC increased its position in Invesco Aerospace & Defense ETF by 3.8% during the first quarter. Modera Wealth Management LLC now owns 2,347 shares of the company’s stock worth $389,000 after buying an additional 86 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Invesco Aerospace & Defense ETF by 12.7% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 885 shares of the company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. Finally, Sovran Advisors LLC raised its holdings in Invesco Aerospace & Defense ETF by 0.7% during the first quarter. Sovran Advisors LLC now owns 14,433 shares of the company’s stock valued at $2,417,000 after buying an additional 100 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. 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.