Invesco Solar ETF (NYSEARCA:TAN – Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $42.02, but opened at $40.70. Invesco Solar ETF shares last traded at $40.3390, with a volume of 343,540 shares traded.
Invesco Solar ETF Price Performance
The firm’s 50-day moving average price is $45.36 and its 200-day moving average price is $54.17. The company has a market cap of $864.18 million, a price-to-earnings ratio of 18.04 and a beta of 1.41.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Watershed Asset Management L.L.C. acquired a new position in shares of Invesco Solar ETF during the first quarter worth $2,006,000. Ayalon Insurance Comp Ltd. boosted its stake in shares of Invesco Solar ETF by 338.4% in the third quarter. Ayalon Insurance Comp Ltd. now owns 172,300 shares of the exchange traded fund’s stock valued at $7,576,000 after purchasing an additional 133,000 shares during the period. Del Sette Capital Management LLC purchased a new position in shares of Invesco Solar ETF in the first quarter valued at $802,000. Bank of America Corp DE grew its holdings in Invesco Solar ETF by 9.5% during the 1st quarter. Bank of America Corp DE now owns 325,356 shares of the exchange traded fund’s stock valued at $18,126,000 after purchasing an additional 28,203 shares in the last quarter. Finally, Nwam LLC grew its holdings in Invesco Solar ETF by 65.0% during the 1st quarter. Nwam LLC now owns 90,588 shares of the exchange traded fund’s stock valued at $5,047,000 after purchasing an additional 35,689 shares in the last quarter.
Invesco Solar ETF Company Profile
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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