Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sets New 12-Month High – Still a Buy?

Shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) reached a new 52-week high on Wednesday . The company traded as high as $130.50 and last traded at $130.50, with a volume of 1429 shares trading hands. The stock had previously closed at $126.15.

Invesco Pharmaceuticals ETF Price Performance

The stock has a 50 day simple moving average of $119.39 and a 200-day simple moving average of $110.84. The firm has a market cap of $503.73 million, a PE ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its position in Invesco Pharmaceuticals ETF by 31.3% during the fourth quarter. IFP Advisors Inc now owns 440 shares of the company’s stock valued at $46,000 after purchasing an additional 105 shares during the period. J.W. Cole Advisors Inc. grew its position in Invesco Pharmaceuticals ETF by 4.7% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,910 shares of the company’s stock worth $304,000 after purchasing an additional 131 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Invesco Pharmaceuticals ETF by 5.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,791 shares of the company’s stock worth $258,000 after purchasing an additional 150 shares during the period. Rockefeller Capital Management L.P. raised its stake in Invesco Pharmaceuticals ETF by 20.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the company’s stock valued at $129,000 after buying an additional 209 shares during the last quarter. Finally, Equitable Holdings Inc. raised its stake in Invesco Pharmaceuticals ETF by 6.2% during the 4th quarter. Equitable Holdings Inc. now owns 3,735 shares of the company’s stock valued at $390,000 after buying an additional 219 shares during the last quarter.

Invesco Pharmaceuticals ETF Company Profile

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.