Peak Asset Management LLC Cuts Stake in Invesco Pharmaceuticals ETF (NYSEARCA:PJP)

Peak Asset Management LLC cut its holdings in Invesco Pharmaceuticals ETF (NYSEARCA:PJP) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,149 shares of the company’s stock after selling 4,554 shares during the quarter. Invesco Pharmaceuticals ETF makes up about 2.2% of Peak Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Peak Asset Management LLC owned approximately 3.90% of Invesco Pharmaceuticals ETF worth $11,493,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PJP. Secure Asset Management LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF during the third quarter valued at about $229,000. HBW Advisory Services LLC purchased a new stake in Invesco Pharmaceuticals ETF during the third quarter valued at approximately $509,000. Northwestern Mutual Wealth Management Co. boosted its stake in Invesco Pharmaceuticals ETF by 49.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,826 shares of the company’s stock valued at $561,000 after acquiring an additional 2,266 shares in the last quarter. Joseph Group Capital Management grew its holdings in Invesco Pharmaceuticals ETF by 10.8% in the second quarter. Joseph Group Capital Management now owns 13,001 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings 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 purchasing an additional 11,156 shares during the last quarter.

Invesco Pharmaceuticals ETF Price Performance

Shares of PJP stock opened at $87.48 on Thursday. Invesco Pharmaceuticals ETF has a 1-year low of $69.34 and a 1-year high of $89.87. The company has a market cap of $296.55 million, a price-to-earnings ratio of 21.48 and a beta of 0.61. The stock’s fifty day moving average price is $87.12 and its 200 day moving average price is $84.32.

About Invesco Pharmaceuticals ETF

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.