Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Price Up 0.6% – Here’s Why

Invesco Food & Beverage ETF (NYSEARCA:PBJ)’s stock price traded up 0.6% during trading on Friday . The stock traded as high as $48.98 and last traded at $48.84. 8,431 shares were traded during trading, a decline of 57% from the average session volume of 19,774 shares. The stock had previously closed at $48.54.

Invesco Food & Beverage ETF Stock Performance

The stock has a market capitalization of $91.82 million, a price-to-earnings ratio of 19.85 and a beta of 0.50. The company’s 50 day moving average is $49.29 and its 200 day moving average is $47.14.

Hedge Funds Weigh In On Invesco Food & Beverage ETF

Several large investors have recently bought and sold shares of PBJ. Kingsview Wealth Management LLC acquired a new position in Invesco Food & Beverage ETF during the 3rd quarter valued at $15,956,000. Bank of America Corp DE increased its holdings in Invesco Food & Beverage ETF by 83.1% in the 2nd quarter. Bank of America Corp DE now owns 77,833 shares of the company’s stock valued at $3,683,000 after buying an additional 35,327 shares during the period. NewEdge Advisors LLC bought a new stake in Invesco Food & Beverage ETF in the 3rd quarter valued at $1,160,000. Royal Bank of Canada increased its holdings in Invesco Food & Beverage ETF by 75.9% in the 4th quarter. Royal Bank of Canada now owns 53,648 shares of the company’s stock valued at $2,404,000 after buying an additional 23,142 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Invesco Food & Beverage ETF in the 3rd quarter valued at $835,000.

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.