Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Volume Increase – Still a Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw strong trading volume on Tuesday. 90,252 shares traded hands during trading, an increase of 154% from the previous session’s volume of 35,574 shares. The stock last traded at $125.4450 and had previously closed at $127.11.

Invesco Pharmaceuticals ETF Stock Performance

The company’s 50-day moving average price is $125.89 and its 200 day moving average price is $115.09. The stock has a market capitalization of $552.43 million, a PE ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Institutional investors have recently bought and sold shares of the stock. Gilpin Wealth Management LLC bought a new stake in Invesco Pharmaceuticals ETF during the 4th quarter valued at approximately $735,000. Royal Bank of Canada raised its position in shares of Invesco Pharmaceuticals ETF by 479.8% in the 1st quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after acquiring an additional 51,619 shares in the last quarter. Bank of America Corp DE raised its position in shares of Invesco Pharmaceuticals ETF by 234.0% in the 1st quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock worth $7,726,000 after acquiring an additional 52,165 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Invesco Pharmaceuticals ETF by 250.7% in the 1st quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock valued at $2,123,000 after purchasing an additional 14,628 shares during the period. Finally, Private Advisor Group LLC purchased a new position in shares of Invesco Pharmaceuticals ETF in the 1st quarter valued at approximately $610,000.

Invesco Pharmaceuticals ETF Company Profile

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. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.