Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Hits New 12-Month High – Here’s Why

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $124.01 and last traded at $123.9140, with a volume of 11880 shares. The stock had previously closed at $122.40.

Invesco S&P 500 High Beta ETF Price Performance

The business’s 50 day moving average price is $116.55 and its 200-day moving average price is $110.12. The company has a market cap of $676.63 million, a P/E ratio of 20.84 and a beta of 1.47.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Several institutional investors and hedge funds have recently modified their holdings of SPHB. Founders Financial Alliance LLC acquired a new stake in Invesco S&P 500 High Beta ETF in the 3rd quarter worth about $36,000. Chesapeake Asset Management LLC acquired a new stake in shares of Invesco S&P 500 High Beta ETF in the fourth quarter valued at approximately $41,000. Delos Wealth Advisors LLC acquired a new stake in Invesco S&P 500 High Beta ETF during the second quarter worth approximately $38,000. Optiver Holding B.V. acquired a new stake in Invesco S&P 500 High Beta ETF during the third quarter worth approximately $77,000. Finally, Hollencrest Capital Management bought a new position in Invesco S&P 500 High Beta ETF during the 2nd quarter worth $90,000.

About Invesco S&P 500 High Beta ETF

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.