Investment Management Corp VA ADV Takes Position in Invesco Aerospace & Defense ETF (NYSEARCA:PPA)

Investment Management Corp VA ADV acquired a new position in shares of Invesco Aerospace & Defense ETF (NYSEARCA:PPA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 89,351 shares of the company’s stock, valued at approximately $10,251,000. Invesco Aerospace & Defense ETF comprises about 9.2% of Investment Management Corp VA ADV’s portfolio, making the stock its 2nd biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPA. Runnymede Capital Advisors Inc. acquired a new stake in Invesco Aerospace & Defense ETF during the 4th quarter valued at approximately $25,000. Orion Capital Management LLC bought a new stake in shares of Invesco Aerospace & Defense ETF in the 4th quarter valued at $49,000. Continuum Advisory LLC increased its position in shares of Invesco Aerospace & Defense ETF by 20.0% during the fourth quarter. Continuum Advisory LLC now owns 558 shares of the company’s stock worth $64,000 after buying an additional 93 shares during the period. Assetmark Inc. increased its position in shares of Invesco Aerospace & Defense ETF by 29.9% during the fourth quarter. Assetmark Inc. now owns 608 shares of the company’s stock worth $70,000 after buying an additional 140 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its stake in Invesco Aerospace & Defense ETF by 29.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 637 shares of the company’s stock worth $73,000 after buying an additional 146 shares during the last quarter.

Invesco Aerospace & Defense ETF Stock Down 0.2%

PPA stock opened at $129.99 on Friday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 29.16 and a beta of 0.84. The company’s fifty day simple moving average is $119.77 and its 200 day simple moving average is $118.59. Invesco Aerospace & Defense ETF has a 12-month low of $100.39 and a 12-month high of $132.69.

Invesco Aerospace & Defense ETF Company Profile

PowerShares Aerospace & Defense Portfolio (Fund) seeks investment results that correspond generally to the price and yield of the SPADE Defense Index (the Index). The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of the United States defense, homeland security and aerospace operations.