Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $118.02 and traded as low as $113.42. Invesco Aerospace & Defense ETF shares last traded at $115.09, with a volume of 268,698 shares traded.

Invesco Aerospace & Defense ETF Trading Down 0.4 %

The stock has a fifty day simple moving average of $118.06 and a 200-day simple moving average of $113.13. The company has a market capitalization of $3.57 billion, a PE ratio of 33.87 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Howe & Rusling Inc. purchased a new position in Invesco Aerospace & Defense ETF during the third quarter worth about $27,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of Invesco Aerospace & Defense ETF by 50.5% in the third quarter. Glass Jacobson Investment Advisors llc now owns 304 shares of the company’s stock valued at $35,000 after buying an additional 102 shares in the last quarter. Eastern Bank acquired a new position in Invesco Aerospace & Defense ETF during the third quarter worth $46,000. Continuum Advisory LLC lifted its holdings in Invesco Aerospace & Defense ETF by 47.6% in the third quarter. Continuum Advisory LLC now owns 465 shares of the company’s stock valued at $55,000 after acquiring an additional 150 shares during the period. Finally, Assetmark Inc. purchased a new stake in shares of Invesco Aerospace & Defense ETF during the 3rd quarter worth $54,000.

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.