Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sets New 12-Month High – Time to Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $169.35 and last traded at $165.06, with a volume of 359834 shares trading hands. The stock had previously closed at $168.23.

Invesco Aerospace & Defense ETF Stock Up 2.7%

The company has a market capitalization of $7.51 billion, a PE ratio of 30.91 and a beta of 0.87. The stock’s fifty day moving average price is $154.69 and its two-hundred day moving average price is $150.93.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Several hedge funds have recently made changes to their positions in PPA. First Heartland Consultants Inc. lifted its stake in Invesco Aerospace & Defense ETF by 9.4% in the fourth quarter. First Heartland Consultants Inc. now owns 9,840 shares of the company’s stock worth $1,541,000 after acquiring an additional 843 shares during the period. Capital Asset Advisory Services LLC raised its holdings in Invesco Aerospace & Defense ETF by 1.8% in the 4th quarter. Capital Asset Advisory Services LLC now owns 338,766 shares of the company’s stock worth $56,991,000 after purchasing an additional 6,043 shares in the last quarter. McCollum Christoferson Group LLC raised its holdings in Invesco Aerospace & Defense ETF by 4.1% in the 4th quarter. McCollum Christoferson Group LLC now owns 1,925 shares of the company’s stock worth $302,000 after purchasing an additional 75 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Invesco Aerospace & Defense ETF by 15.0% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 9,135 shares of the company’s stock worth $1,431,000 after purchasing an additional 1,193 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Invesco Aerospace & Defense ETF by 2.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,879 shares of the company’s stock valued at $3,008,000 after purchasing an additional 435 shares in the last quarter.

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.