Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Sets New 1-Year High – Here’s Why

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $65.15 and last traded at $65.0650, with a volume of 15331 shares changing hands. The stock had previously closed at $64.05.

Invesco AI and Next Gen Software ETF Stock Up 1.5%

The stock has a market cap of $712.07 million, a price-to-earnings ratio of 28.76 and a beta of 1.13. The company has a 50 day simple moving average of $59.67 and a 200-day simple moving average of $55.93.

Institutional Investors Weigh In On Invesco AI and Next Gen Software ETF

Hedge funds have recently added to or reduced their stakes in the stock. Berkshire Money Management Inc. raised its position in Invesco AI and Next Gen Software ETF by 0.9% in the fourth quarter. Berkshire Money Management Inc. now owns 245,620 shares of the company’s stock worth $14,607,000 after acquiring an additional 2,105 shares in the last quarter. CWM LLC raised its holdings in shares of Invesco AI and Next Gen Software ETF by 42.2% in the 4th quarter. CWM LLC now owns 1,728 shares of the company’s stock worth $103,000 after purchasing an additional 513 shares in the last quarter. PFG Investments LLC acquired a new stake in Invesco AI and Next Gen Software ETF during the fourth quarter valued at approximately $207,000. Clear Creek Financial Management LLC boosted its holdings in Invesco AI and Next Gen Software ETF by 4.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 21,774 shares of the company’s stock worth $1,295,000 after buying an additional 908 shares in the last quarter. Finally, Brookwood Investment Group LLC bought a new stake in Invesco AI and Next Gen Software ETF during the fourth quarter worth approximately $206,000.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.