Financial Advocates Investment Management Decreases Stock Holdings in Invesco Aerospace & Defense ETF (NYSEARCA:PPA)

Financial Advocates Investment Management cut its stake in Invesco Aerospace & Defense ETF (NYSEARCA:PPA) by 52.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,729 shares of the company’s stock after selling 11,844 shares during the quarter. Financial Advocates Investment Management’s holdings in Invesco Aerospace & Defense ETF were worth $1,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Schmidt P J Investment Management Inc. increased its stake in Invesco Aerospace & Defense ETF by 16.9% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 8,498 shares of the company’s stock valued at $975,000 after purchasing an additional 1,227 shares in the last quarter. Lion Street Advisors LLC grew its holdings in Invesco Aerospace & Defense ETF by 15.7% in the fourth quarter. Lion Street Advisors LLC now owns 2,655 shares of the company’s stock valued at $305,000 after purchasing an additional 360 shares during the last quarter. Financial Partners Group Inc increased its position in shares of Invesco Aerospace & Defense ETF by 25.1% in the fourth quarter. Financial Partners Group Inc now owns 26,286 shares of the company’s stock valued at $3,016,000 after buying an additional 5,277 shares in the last quarter. WFA Asset Management Corp raised its stake in shares of Invesco Aerospace & Defense ETF by 351.4% during the 4th quarter. WFA Asset Management Corp now owns 1,133 shares of the company’s stock worth $130,000 after buying an additional 882 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Invesco Aerospace & Defense ETF by 21.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 4,198 shares of the company’s stock worth $482,000 after buying an additional 745 shares in the last quarter.

Invesco Aerospace & Defense ETF Trading Down 0.5 %

NYSEARCA:PPA opened at $120.26 on Friday. The company has a market capitalization of $3.75 billion, a P/E ratio of 33.87 and a beta of 0.73. The firm has a 50-day moving average price of $118.14 and a two-hundred day moving average price of $115.23. Invesco Aerospace & Defense ETF has a twelve month low of $92.93 and a twelve month high of $124.89.

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.