Institute for Wealth Management LLC. Trims Position in Invesco Pharmaceuticals ETF (NYSEARCA:PJP)

Institute for Wealth Management LLC. decreased its position in shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,025 shares of the company’s stock after selling 143 shares during the quarter. Institute for Wealth Management LLC. owned approximately 0.35% of Invesco Pharmaceuticals ETF worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PJP. Envestnet Asset Management Inc. grew its position in Invesco Pharmaceuticals ETF by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 3,761 shares of the company’s stock worth $299,000 after acquiring an additional 151 shares during the period. Bank of Montreal Can grew its holdings in shares of Invesco Pharmaceuticals ETF by 8.6% during the 1st quarter. Bank of Montreal Can now owns 2,359 shares of the company’s stock worth $191,000 after purchasing an additional 187 shares during the period. Vontobel Holding Ltd. increased its position in shares of Invesco Pharmaceuticals ETF by 20.0% during the 1st quarter. Vontobel Holding Ltd. now owns 7,500 shares of the company’s stock worth $597,000 after purchasing an additional 1,250 shares during the last quarter. UBS Group AG raised its holdings in Invesco Pharmaceuticals ETF by 1.5% in the 1st quarter. UBS Group AG now owns 48,288 shares of the company’s stock valued at $3,843,000 after buying an additional 693 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Invesco Pharmaceuticals ETF by 1.4% in the first quarter. Goldman Sachs Group Inc. now owns 50,699 shares of the company’s stock valued at $4,035,000 after buying an additional 699 shares during the last quarter.

Invesco Pharmaceuticals ETF Price Performance

Shares of PJP stock opened at $76.06 on Friday. Invesco Pharmaceuticals ETF has a 1-year low of $67.75 and a 1-year high of $80.65. The company has a 50-day moving average of $77.96 and a two-hundred day moving average of $74.82. The firm has a market cap of $266.96 million, a PE ratio of 20.52 and a beta of 0.64.

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.