Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Shares Down 2.5% – Should You Sell?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s share price dropped 2.5% during trading on Monday . The company traded as low as $145.07 and last traded at $145.69. 469,577 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 374,446 shares. The stock had previously closed at $149.45.

Invesco S&P 500 High Beta ETF Stock Performance

The company has a market capitalization of $1.00 billion, a P/E ratio of 20.84 and a beta of 1.40. The business has a 50 day moving average of $146.65 and a 200-day moving average of $130.85.

Institutional Investors Weigh In On Invesco S&P 500 High Beta ETF

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Invesco S&P 500 High Beta ETF by 13.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 142,593 shares of the company’s stock worth $13,907,000 after acquiring an additional 17,300 shares during the period. Headlands Technologies LLC purchased a new position in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter valued at $104,000. UBS Group AG grew its position in shares of Invesco S&P 500 High Beta ETF by 42.8% during the 3rd quarter. UBS Group AG now owns 43,430 shares of the company’s stock valued at $4,769,000 after purchasing an additional 13,011 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Invesco S&P 500 High Beta ETF in the third quarter worth $2,212,000. Finally, Ameriprise Financial Inc. raised its position in shares of Invesco S&P 500 High Beta ETF by 185.0% in the third quarter. Ameriprise Financial Inc. now owns 27,458 shares of the company’s stock worth $3,015,000 after buying an additional 17,824 shares in the last quarter.

Invesco S&P 500 High Beta ETF Company Profile

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.