Invesco Building & Construction ETF (NYSEARCA:PKB) Trading Down 2.8% – Here’s Why

Invesco Building & Construction ETF (NYSEARCA:PKB)’s share price dropped 2.8% on Friday . The stock traded as low as $102.10 and last traded at $102.10. Approximately 19,213 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 30,369 shares. The stock had previously closed at $105.08.

Invesco Building & Construction ETF Stock Performance

The firm’s 50 day moving average price is $102.05 and its two-hundred day moving average price is $99.94. The firm has a market cap of $427.80 million, a PE ratio of 21.37 and a beta of 1.31.

Hedge Funds Weigh In On Invesco Building & Construction ETF

Several large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in shares of Invesco Building & Construction ETF by 3.3% in the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the company’s stock worth $385,000 after acquiring an additional 185 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Invesco Building & Construction ETF by 10.2% in the 4th quarter. Apollon Wealth Management LLC now owns 2,690 shares of the company’s stock worth $249,000 after acquiring an additional 248 shares during the last quarter. Peterson Wealth Services lifted its holdings in shares of Invesco Building & Construction ETF by 6,575.0% in the 3rd quarter. Peterson Wealth Services now owns 267 shares of the company’s stock worth $26,000 after acquiring an additional 263 shares during the last quarter. Strategic Advocates LLC acquired a new position in shares of Invesco Building & Construction ETF in the 3rd quarter worth approximately $27,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Invesco Building & Construction ETF by 30.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,203 shares of the company’s stock worth $111,000 after acquiring an additional 283 shares during the last quarter.

Invesco Building & Construction ETF Company Profile

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction 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 building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.