Invesco Solar ETF (NYSEARCA:TAN) Hits New 12-Month High – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.68 and last traded at $52.86, with a volume of 2154438 shares traded. The stock had previously closed at $50.39.

Invesco Solar ETF Trading Down 2.5%

The stock has a market cap of $971.45 million, a P/E ratio of 18.04 and a beta of 1.37. The business has a 50-day simple moving average of $46.02 and a 200 day simple moving average of $39.32.

Institutional Investors Weigh In On Invesco Solar ETF

Institutional investors have recently modified their holdings of the company. Black Swift Group LLC acquired a new stake in Invesco Solar ETF during the 3rd quarter worth about $3,657,000. Citigroup Inc. boosted its position in shares of Invesco Solar ETF by 719.1% during the 3rd quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock worth $38,729,000 after purchasing an additional 779,301 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Invesco Solar ETF in the 3rd quarter valued at about $177,000. PNC Financial Services Group Inc. increased its position in Invesco Solar ETF by 4.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,032 shares of the exchange traded fund’s stock valued at $2,401,000 after buying an additional 2,101 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Invesco Solar ETF during the 3rd quarter worth approximately $272,000.

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).