Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Price Up 0.7% – Still a Buy?

Invesco Food & Beverage ETF (NYSEARCA:PBJ) rose 0.7% on Thursday . The stock traded as high as $49.10 and last traded at $49.08. Approximately 21,036 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 21,566 shares. The stock had previously closed at $48.75.

Invesco Food & Beverage ETF Stock Up 0.7%

The company’s fifty day moving average is $49.46 and its two-hundred day moving average is $46.77. The firm has a market capitalization of $90.31 million, a price-to-earnings ratio of 19.85 and a beta of 0.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new position in Invesco Food & Beverage ETF during the 3rd quarter worth approximately $15,956,000. Mainsail Financial Group LLC boosted its stake in Invesco Food & Beverage ETF by 6.1% during the 3rd quarter. Mainsail Financial Group LLC now owns 96,645 shares of the company’s stock worth $4,432,000 after acquiring an additional 5,557 shares during the last quarter. Cetera Investment Advisers boosted its stake in Invesco Food & Beverage ETF by 83.7% during the 4th quarter. Cetera Investment Advisers now owns 15,469 shares of the company’s stock worth $693,000 after acquiring an additional 7,047 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Invesco Food & Beverage ETF during the 4th quarter worth approximately $83,000. Finally, Commonwealth Equity Services LLC boosted its stake in Invesco Food & Beverage ETF by 10.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,976 shares of the company’s stock worth $805,000 after acquiring an additional 1,740 shares during the last quarter.

About Invesco Food & Beverage ETF

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.