Invesco Solar ETF (NYSEARCA:TAN – Get Free Report) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $60.82 and traded as high as $64.86. Invesco Solar ETF shares last traded at $61.83, with a volume of 1,521,926 shares.
Invesco Solar ETF Stock Performance
The stock has a market capitalization of $1.70 billion, a P/E ratio of 18.04 and a beta of 1.36. The firm has a 50-day moving average price of $60.82 and a 200 day moving average price of $55.77.
Institutional Investors Weigh In On Invesco Solar ETF
A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in shares of Invesco Solar ETF by 72.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 265,917 shares of the exchange traded fund’s stock valued at $8,100,000 after purchasing an additional 111,322 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Invesco Solar ETF by 350.7% in the second quarter. JPMorgan Chase & Co. now owns 132,780 shares of the exchange traded fund’s stock worth $4,549,000 after purchasing an additional 103,322 shares during the last quarter. Cerity Partners LLC boosted its position in Invesco Solar ETF by 97.2% during the second quarter. Cerity Partners LLC now owns 13,023 shares of the exchange traded fund’s stock valued at $478,000 after buying an additional 6,419 shares during the period. LMR Partners LLP purchased a new stake in Invesco Solar ETF during the second quarter valued at about $6,252,000. Finally, Corient Private Wealth LLC bought a new position in shares of Invesco Solar ETF during the second quarter valued at about $562,000.
About Invesco Solar ETF
Guggenheim Solar ETF, formerly Claymore/MAC Global Solar Energy Index ETF, seeks investment results that correspond generally to the performance of an equity index called the MAC Global Solar Energy Index (the Index). The Index consists of approximately 25 stocks selected based on the relative importance of solar power within the Company’s business model, as determined by MAC Indexing LLC (the Index Provider). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.
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