Invesco Aerospace & Defense ETF (NYSEARCA:PPA) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Invesco Aerospace & Defense ETF (NYSEARCA:PPA) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Invesco Aerospace & Defense ETF Price Performance

The firm has a fifty day simple moving average of $118.02 and a two-hundred day simple moving average of $113.04. The firm has a market capitalization of $3.59 billion, a P/E ratio of 33.87 and a beta of 0.73.

Hedge Funds Weigh In On Invesco Aerospace & Defense ETF

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Invesco Aerospace & Defense ETF by 87.2% in the third quarter. JPMorgan Chase & Co. now owns 16,218 shares of the company’s stock worth $1,865,000 after buying an additional 7,555 shares in the last quarter. Synovus Financial Corp raised its position in shares of Invesco Aerospace & Defense ETF by 11.5% in the third quarter. Synovus Financial Corp now owns 16,531 shares of the company’s stock worth $1,901,000 after buying an additional 1,700 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco Aerospace & Defense ETF in the third quarter worth $132,000. Sanctuary Advisors LLC raised its position in shares of Invesco Aerospace & Defense ETF by 10.2% in the third quarter. Sanctuary Advisors LLC now owns 12,453 shares of the company’s stock worth $1,507,000 after buying an additional 1,149 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in shares of Invesco Aerospace & Defense ETF by 47.6% in the third quarter. Continuum Advisory LLC now owns 465 shares of the company’s stock worth $55,000 after buying an additional 150 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.