Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Shares Up 0.6% – Should You Buy?

Invesco Biotechnology & Genome ETF (NYSEARCA:PBE)’s stock price was up 0.6% during trading on Thursday . The stock traded as high as $94.06 and last traded at $93.01. 9,197 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 7,091 shares. The stock had previously closed at $92.45.

Invesco Biotechnology & Genome ETF Stock Performance

The firm has a market capitalization of $288.33 million, a price-to-earnings ratio of 20.44 and a beta of 0.70. The company has a 50-day moving average price of $84.71 and a 200-day moving average price of $82.24.

Hedge Funds Weigh In On Invesco Biotechnology & Genome ETF

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its holdings in shares of Invesco Biotechnology & Genome ETF by 1.8% in the 3rd quarter. Raymond James Financial Inc. now owns 8,078 shares of the company’s stock valued at $564,000 after buying an additional 141 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Invesco Biotechnology & Genome ETF by 18.1% in the fourth quarter. NewEdge Advisors LLC now owns 1,043 shares of the company’s stock valued at $86,000 after acquiring an additional 160 shares in the last quarter. Comerica Bank grew its holdings in shares of Invesco Biotechnology & Genome ETF by 86.2% during the fourth quarter. Comerica Bank now owns 378 shares of the company’s stock worth $31,000 after purchasing an additional 175 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Invesco Biotechnology & Genome ETF by 74.5% during the third quarter. PNC Financial Services Group Inc. now owns 574 shares of the company’s stock worth $40,000 after purchasing an additional 245 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Invesco Biotechnology & Genome ETF by 3.0% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 10,070 shares of the company’s stock worth $827,000 after purchasing an additional 298 shares in the last quarter.

About Invesco Biotechnology & Genome ETF

PowerShares Dynamic Biotechnology & Genome Portfolio (the Fund) is based on the Dynamic Biotechnology & Genome Intellidex Index (the Index). The Fund seeks investment results that correspond generally to the price and yield of the Index. The Index consists of stocks of 30 the United States biotechnology and genome companies. 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.