Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Volume Increase – Here’s What Happened

Shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw unusually-high trading volume on Tuesday. 90,252 shares were traded during mid-day 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 Trading Down 1.2%

The firm’s 50-day moving average is $125.67 and its 200 day moving average is $114.80. The firm has a market capitalization of $562.60 million, a price-to-earnings ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Several large investors have recently modified their holdings of the business. Gilpin Wealth Management LLC acquired a new stake in Invesco Pharmaceuticals ETF in the fourth quarter valued at $735,000. Royal Bank of Canada grew 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 valued at $6,472,000 after buying an additional 51,619 shares during the last quarter. Bank of America Corp DE grew 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 valued at $7,726,000 after buying an additional 52,165 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Invesco Pharmaceuticals ETF by 250.7% in the first quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock valued at $2,123,000 after buying an additional 14,628 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF in the first quarter valued at about $610,000.

About Invesco Pharmaceuticals ETF

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.