Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Sees Strong Trading Volume – Still a Buy?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) shares saw unusually-strong trading volume on Wednesday . Approximately 1,350,532 shares traded hands during mid-day trading, an increase of 606% from the previous session’s volume of 191,400 shares.The stock last traded at $117.57 and had previously closed at $117.10.

Invesco Aerospace & Defense ETF Stock Performance

The stock’s 50 day simple moving average is $118.09 and its 200 day simple moving average is $113.46. The firm has a market cap of $3.67 billion, a P/E ratio of 33.87 and a beta of 0.73.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

Hedge funds have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. bought a new position in shares of Invesco Aerospace & Defense ETF during the third quarter valued at about $27,000. Glass Jacobson Investment Advisors llc increased its stake in Invesco Aerospace & Defense ETF by 50.5% in the 3rd 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 during the last quarter. Eastern Bank bought a new position in shares of Invesco Aerospace & Defense ETF during the 3rd quarter worth approximately $46,000. Continuum Advisory LLC boosted its stake in shares of Invesco Aerospace & Defense ETF by 47.6% in the 3rd quarter. Continuum Advisory LLC now owns 465 shares of the company’s stock worth $55,000 after buying an additional 150 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Invesco Aerospace & Defense ETF in the third quarter valued at approximately $54,000.

Invesco Aerospace & Defense ETF Company Profile

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.