Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Shares Up 0.6% – Time to Buy?

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) shares traded up 0.6% during trading on Monday. The company traded as high as $126.80 and last traded at $125.80. 40,426 shares changed hands during trading, an increase of 12% from the average daily volume of 36,011 shares. The stock had previously closed at $125.03.

Invesco Pharmaceuticals ETF Stock Performance

The stock has a fifty day simple moving average of $125.83 and a two-hundred day simple moving average of $113.90. The stock has a market capitalization of $558.55 million, a price-to-earnings ratio of 15.59 and a beta of 0.44.

Institutional Investors Weigh In On Invesco Pharmaceuticals ETF

Several institutional investors and hedge funds have recently made changes to their positions in PJP. Bank of America Corp DE grew its stake in Invesco Pharmaceuticals ETF by 234.0% during the first 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 during the period. Royal Bank of Canada increased its holdings in Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after purchasing an additional 51,619 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Invesco Pharmaceuticals ETF by 35.9% in the second quarter. Envestnet Asset Management Inc. now owns 36,897 shares of the company’s stock worth $4,370,000 after purchasing an additional 9,741 shares in the last quarter. Cetera Investment Advisers increased its holdings in Invesco Pharmaceuticals ETF by 250.7% in the first quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock worth $2,123,000 after purchasing an additional 14,628 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Invesco Pharmaceuticals ETF in the first quarter worth approximately $610,000.

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.