Pekin Hardy Strauss Inc. Makes New Investment in Invesco Solar ETF $TAN

Pekin Hardy Strauss Inc. acquired a new stake in Invesco Solar ETF (NYSEARCA:TAN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,733 shares of the exchange traded fund’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Invesco Solar ETF during the first quarter valued at about $99,186,000. Ayalon Insurance Comp Ltd. boosted its holdings 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 worth $7,576,000 after purchasing an additional 133,000 shares during the period. NTV Asset Management LLC bought a new stake in shares of Invesco Solar ETF in the third quarter worth about $4,401,000. Hilltop Holdings Inc. bought a new stake in shares of Invesco Solar ETF in the first quarter worth about $2,558,000. Finally, Watershed Asset Management L.L.C. bought a new stake in shares of Invesco Solar ETF in the first quarter worth about $2,006,000.

Invesco Solar ETF Price Performance

NYSEARCA:TAN traded up $1.49 during mid-day trading on Friday, reaching $45.58. 2,922,611 shares of the company’s stock traded hands, compared to its average volume of 1,326,631. Invesco Solar ETF has a 12-month low of $39.56 and a 12-month high of $75.60. The firm has a market capitalization of $988.63 million, a price-to-earnings ratio of 18.04 and a beta of 1.34. The company has a 50 day moving average price of $44.33 and a 200-day moving average price of $53.82.

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.