Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Hits New 12-Month High – Here’s Why

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) shares hit a new 52-week high on Friday. The company traded as high as $131.88 and last traded at $131.0650, with a volume of 2,989 shares. The stock had previously closed at $128.88.

Invesco Pharmaceuticals ETF Stock Performance

The firm has a 50-day moving average of $125.76 and a 200-day moving average of $114.33. The firm has a market capitalization of $582.16 million, a P/E ratio of 15.59 and a beta of 0.44.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Hedge funds have recently made changes to their positions in the business. Lodestone Wealth Management LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF in the 3rd quarter worth about $25,000. Latitude Advisors LLC bought a new position in Invesco Pharmaceuticals ETF in the 3rd quarter worth about $29,000. Fifth Third Bancorp purchased a new stake in Invesco Pharmaceuticals ETF during the 1st quarter valued at about $36,000. Global Assets Advisory LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF during the first quarter valued at approximately $42,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF during the second quarter valued at $55,000.

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.