Invesco Solar ETF (NYSEARCA:TAN) Sees Large Volume Increase – Still a Buy?

Invesco Solar ETF (NYSEARCA:TAN) saw an uptick in trading volume on Tuesday. Approximately 1,597,421 shares changed hands during trading, an increase of 28% from the average daily volume of 1,252,483 shares. The stock last traded at $43.4620 and had previously closed at $42.07.

Invesco Solar ETF Trading Up 2.6%

The stock has a 50 day simple moving average of $44.66 and a 200-day simple moving average of $53.96. The firm has a market cap of $932.95 million, a PE ratio of 18.04 and a beta of 1.41.

Institutional Trading of Invesco Solar ETF

A number of large investors have recently added to or reduced their stakes in TAN. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Invesco Solar ETF during the 1st quarter valued at about $99,186,000. Bank of America Corp DE increased its stake in Invesco Solar ETF by 9.5% in the 1st quarter. Bank of America Corp DE now owns 325,356 shares of the exchange traded fund’s stock worth $18,126,000 after buying an additional 28,203 shares during the period. Ayalon Insurance Comp Ltd. raised its stake in shares of Invesco Solar ETF by 338.4% during 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 acquiring an additional 133,000 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Invesco Solar ETF by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 99,984 shares of the exchange traded fund’s stock worth $5,570,000 after buying an additional 5,337 shares during the period. Finally, Royal Bank of Canada grew its holdings in Invesco Solar ETF by 5.8% during the 1st quarter. Royal Bank of Canada now owns 99,308 shares of the exchange traded fund’s stock worth $5,533,000 after acquiring an additional 5,443 shares in the last quarter.

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.