Invesco Food & Beverage ETF (NYSEARCA:PBJ) Shares Climb 1.4% – Here’s What Happened

Invesco Food & Beverage ETF (NYSEARCA:PBJ) shares traded up 1.4% during trading on Monday. The company traded as high as $48.37 and last traded at $48.34. 7,747 shares traded hands during trading, a decline of 64% from the average session volume of 21,426 shares. The stock had previously closed at $47.69.

Invesco Food & Beverage ETF Stock Performance

The firm’s 50-day moving average is $46.94 and its 200 day moving average is $48.13. The stock has a market cap of $107.80 million, a PE ratio of 19.85 and a beta of 0.49.

Institutional Trading of Invesco Food & Beverage ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in Invesco Food & Beverage ETF during the 3rd quarter worth $770,000. Commonwealth Equity Services LLC acquired a new position in shares of Invesco Food & Beverage ETF during the 3rd quarter worth $686,000. Mainsail Financial Group LLC increased its holdings in Invesco Food & Beverage ETF by 6.6% in the third quarter. Mainsail Financial Group LLC now owns 135,423 shares of the company’s stock valued at $6,065,000 after buying an additional 8,380 shares in the last quarter. Wedbush Securities Inc. purchased a new position in Invesco Food & Beverage ETF in the 3rd quarter valued at approximately $393,000. Finally, Compass Financial Management LLC acquired a new position in shares of Invesco Food & Beverage ETF during the 2nd quarter worth $224,000.

About Invesco Food & Beverage ETF

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.