Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 52-Week High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $60.65 and last traded at $60.65, with a volume of 1201960 shares trading hands. The stock had previously closed at $59.94.

Invesco S&P 500 Top 50 ETF Stock Performance

The company has a market capitalization of $10.67 billion, a P/E ratio of 27.80 and a beta of 1.05. The business has a 50 day moving average of $56.72 and a 200-day moving average of $58.10.

Hedge Funds Weigh In On Invesco S&P 500 Top 50 ETF

A number of institutional investors have recently added to or reduced their stakes in XLG. JPMorgan Chase & Co. increased its stake in Invesco S&P 500 Top 50 ETF by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,786,602 shares of the company’s stock worth $217,805,000 after acquiring an additional 1,321,856 shares during the last quarter. Osaic Holdings Inc. increased its stake in Invesco S&P 500 Top 50 ETF by 66.1% in the 4th quarter. Osaic Holdings Inc. now owns 2,838,230 shares of the company’s stock worth $168,251,000 after acquiring an additional 1,129,519 shares during the last quarter. LPL Financial LLC increased its stake in Invesco S&P 500 Top 50 ETF by 8.0% in the 4th quarter. LPL Financial LLC now owns 11,554,356 shares of the company’s stock worth $684,942,000 after acquiring an additional 856,661 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Invesco S&P 500 Top 50 ETF by 46.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,296,020 shares of the company’s stock worth $132,108,000 after acquiring an additional 729,356 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in Invesco S&P 500 Top 50 ETF by 25.8% in the 2nd quarter. Raymond James Financial Inc. now owns 2,867,532 shares of the company’s stock worth $149,398,000 after acquiring an additional 588,257 shares during the last quarter.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.