M3 Wealth Management LLC Makes New Investment in Invesco Aerospace & Defense ETF $PPA

M3 Wealth Management LLC bought a new position in shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) in the fourth quarter, HoldingsChannel reports. The firm bought 5,816 shares of the company’s stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPA. BOK Financial Private Wealth Inc. raised its position in Invesco Aerospace & Defense ETF by 84.2% during the third quarter. BOK Financial Private Wealth Inc. now owns 175 shares of the company’s stock worth $27,000 after acquiring an additional 80 shares during the last quarter. eCIO Inc. acquired a new position in Invesco Aerospace & Defense ETF during the fourth quarter worth about $28,000. Binnacle Investments Inc raised its position in Invesco Aerospace & Defense ETF by 84.2% during the second quarter. Binnacle Investments Inc now owns 210 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares during the last quarter. EPG Wealth Management LLC acquired a new position in Invesco Aerospace & Defense ETF during the fourth quarter worth about $31,000. Finally, Y.D. More Investments Ltd raised its position in Invesco Aerospace & Defense ETF by 720.0% during the fourth quarter. Y.D. More Investments Ltd now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 180 shares during the last quarter.

Invesco Aerospace & Defense ETF Trading Up 2.2%

Shares of PPA opened at $174.04 on Wednesday. The stock has a market cap of $8.32 billion, a P/E ratio of 30.91 and a beta of 0.72. The company has a 50-day moving average of $170.02 and a two-hundred day moving average of $167.31. Invesco Aerospace & Defense ETF has a 12-month low of $131.09 and a 12-month high of $186.30.

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. The modified market-cap portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.