HighTower Advisors LLC Reduces Stock Position in Invesco Pharmaceuticals ETF (NYSEARCA:PJP)

HighTower Advisors LLC trimmed its holdings in shares of Invesco Pharmaceuticals ETF (NYSEARCA:PJP) by 45.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,704 shares of the company’s stock after selling 2,298 shares during the quarter. HighTower Advisors LLC owned 0.08% of Invesco Pharmaceuticals ETF worth $235,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in Invesco Pharmaceuticals ETF by 87.7% in the second quarter. Envestnet Asset Management Inc. now owns 23,878 shares of the company’s stock worth $1,963,000 after buying an additional 11,156 shares during the last quarter. Joseph Group Capital Management increased its stake in shares of Invesco Pharmaceuticals ETF by 16.0% during the third quarter. Joseph Group Capital Management now owns 15,080 shares of the company’s stock valued at $1,312,000 after buying an additional 2,079 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco Pharmaceuticals ETF by 49.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,826 shares of the company’s stock valued at $561,000 after buying an additional 2,266 shares during the period. HBW Advisory Services LLC bought a new stake in shares of Invesco Pharmaceuticals ETF in the third quarter valued at about $509,000. Finally, Arete Wealth Advisors LLC purchased a new stake in Invesco Pharmaceuticals ETF in the third quarter worth about $402,000.

Invesco Pharmaceuticals ETF Stock Performance

NYSEARCA PJP opened at $83.00 on Wednesday. Invesco Pharmaceuticals ETF has a one year low of $74.82 and a one year high of $89.87. The company has a market capitalization of $281.37 million, a price-to-earnings ratio of 21.48 and a beta of 0.61. The company’s 50-day simple moving average is $86.32 and its two-hundred day simple moving average is $85.47.

Invesco Pharmaceuticals ETF Profile

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.