Element Wealth LLC Lowers Stock Position in Invesco Pharmaceuticals ETF (NYSEARCA:PJP)

Element Wealth LLC lowered its position in Invesco Pharmaceuticals ETF (NYSEARCA:PJP) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,591 shares of the company’s stock after selling 862 shares during the period. Element Wealth LLC’s holdings in Invesco Pharmaceuticals ETF were worth $425,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Kraft Davis & Associates LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF in the fourth quarter worth about $277,000. Modera Wealth Management LLC purchased a new stake in Invesco Pharmaceuticals ETF in the third quarter valued at approximately $538,000. UBS Group AG raised its stake in Invesco Pharmaceuticals ETF by 132.2% in the third quarter. UBS Group AG now owns 92,123 shares of the company’s stock valued at $6,667,000 after purchasing an additional 52,455 shares in the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of Invesco Pharmaceuticals ETF during the fourth quarter worth approximately $1,557,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Invesco Pharmaceuticals ETF during the fourth quarter worth approximately $4,633,000.

Invesco Pharmaceuticals ETF Trading Up 0.5 %

Shares of PJP stock traded up $0.41 during trading hours on Tuesday, hitting $76.40. 3,586 shares of the company’s stock were exchanged, compared to its average volume of 26,182. The company has a market capitalization of $268.16 million, a PE ratio of 20.52 and a beta of 0.64. Invesco Pharmaceuticals ETF has a 12-month low of $67.75 and a 12-month high of $80.65. The business’s 50 day simple moving average is $77.93 and its 200-day simple moving average is $74.91.

About Invesco Pharmaceuticals ETF

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.