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

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) shares saw unusually-high trading volume on Tuesday . 181,236 shares were traded during trading, an increase of 411% from the previous session’s volume of 35,453 shares.The stock last traded at $127.5350 and had previously closed at $126.48.

Invesco Pharmaceuticals ETF Stock Performance

The company has a 50-day moving average price of $124.81 and a 200-day moving average price of $114.07. The firm has a market capitalization of $558.60 million, a P/E ratio of 15.59 and a beta of 0.45.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Invesco Pharmaceuticals ETF by 234.0% during the 1st quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock worth $7,726,000 after purchasing an additional 52,165 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Invesco Pharmaceuticals ETF by 479.8% during the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after acquiring an additional 51,619 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Invesco Pharmaceuticals ETF by 829.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock valued at $2,712,000 after acquiring an additional 23,150 shares in the last quarter. Cetera Investment Advisers lifted its position in Invesco Pharmaceuticals ETF by 250.7% in the 1st quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock valued at $2,123,000 after acquiring an additional 14,628 shares in the last quarter. Finally, Gilpin Wealth Management LLC acquired a new position in Invesco Pharmaceuticals ETF in the 4th quarter worth $735,000.

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.