Acorn Financial Advisory Services Inc. ADV Acquires New Stake in Invesco Aerospace & Defense ETF $PPA

Acorn Financial Advisory Services Inc. ADV acquired a new stake in Invesco Aerospace & Defense ETF (NYSEARCA:PPA) during the first quarter, Holdings Channel reports. The fund acquired 79,823 shares of the company’s stock, valued at approximately $13,227,000. Invesco Aerospace & Defense ETF accounts for approximately 1.8% of Acorn Financial Advisory Services Inc. ADV’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPA. North Star Investment Management Corp. grew its stake in Invesco Aerospace & Defense ETF by 23.0% during the 1st quarter. North Star Investment Management Corp. now owns 695 shares of the company’s stock valued at $115,000 after acquiring an additional 130 shares in the last quarter. Detalus Advisors LLC lifted its stake in Invesco Aerospace & Defense ETF by 30.0% in the 1st quarter. Detalus Advisors LLC now owns 43,266 shares of the company’s stock worth $7,169,000 after purchasing an additional 9,978 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Invesco Aerospace & Defense ETF by 14.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 111,812 shares of the company’s stock worth $18,527,000 after purchasing an additional 13,931 shares during the last quarter. Harbor Asset Planning Inc. boosted its holdings in shares of Invesco Aerospace & Defense ETF by 44.2% during the 1st quarter. Harbor Asset Planning Inc. now owns 463 shares of the company’s stock worth $77,000 after purchasing an additional 142 shares during the last quarter. Finally, WT Wealth Management grew its position in shares of Invesco Aerospace & Defense ETF by 7.9% in the first quarter. WT Wealth Management now owns 31,625 shares of the company’s stock valued at $5,240,000 after purchasing an additional 2,322 shares in the last quarter.

Invesco Aerospace & Defense ETF Stock Performance

NYSEARCA:PPA opened at $176.65 on Wednesday. Invesco Aerospace & Defense ETF has a one year low of $138.83 and a one year high of $186.30. The stock has a market cap of $8.45 billion, a PE ratio of 30.91 and a beta of 0.73. The stock has a 50 day moving average price of $170.90 and a 200 day moving average price of $171.36.

About Invesco Aerospace & Defense ETF

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. The modified market-cap portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index.