28-Mar-2024
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Cons Disc distribution & retail has the highest dispersion among S&P groups - MS
Seeking Alpha News (Tue, 26-Mar 11:45 AM ET)
The Invesco Dynamic Pharmaceuticals ETF (Fund) is based on the Dynamic Pharmaceutical Intellidex Index (Intellidex Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Intellidex Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Underlying Intellidex Index is comprised of common stocks of 30 US pharmaceuticals companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.
Invesco Dynamic Pharmaceuticals ETF trades on the ARCA stock market under the symbol PJP.
As of March 28, 2024, PJP stock price declined to $80.16 with 19,577 million shares trading.
PJP has a beta of 0.64, meaning it tends to be less sensitive to market movements. PJP has a correlation of 0.30 to the broad based SPY ETF.
PJP has a market cap of $286.97 million. This is considered a Small Cap stock.
In the last 3 years, PJP stock traded as high as $84.11 and as low as $67.75.
PJP has underperformed the market in the last year with a return of +8.2%, while the SPY ETF gained +33.6%. In the last 3 month period, PJP fell short of the market, returning +5.5%, while SPY returned +10.1%. However, in the most recent 2 weeks PJP has outperformed the stock market by returning +3.0%, while SPY returned +1.7%.
PJP support price is $79.66 and resistance is $80.90 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PJP stock will trade within this expected range on the day.