Invesco Semiconductors ETF (NYSEARCA:PSI) Hits New 1-Year High – Here’s Why

Invesco Semiconductors ETF (NYSEARCA:PSI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $155.36 and last traded at $153.80, with a volume of 96117 shares changing hands. The stock had previously closed at $151.78.

Invesco Semiconductors ETF Price Performance

The company has a market cap of $2.30 billion, a P/E ratio of 29.05 and a beta of 1.78. The company has a fifty day simple moving average of $107.24 and a 200-day simple moving average of $92.45.

Hedge Funds Weigh In On Invesco Semiconductors ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSI. HighTower Advisors LLC grew its position in Invesco Semiconductors ETF by 205.5% during the 4th quarter. HighTower Advisors LLC now owns 543,240 shares of the company’s stock worth $42,840,000 after purchasing an additional 365,438 shares in the last quarter. Warner Group LLC purchased a new position in Invesco Semiconductors ETF during the 3rd quarter worth approximately $13,566,000. Ameriprise Financial Inc. grew its position in Invesco Semiconductors ETF by 833.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 151,834 shares of the company’s stock worth $9,129,000 after purchasing an additional 135,576 shares in the last quarter. Trek Financial LLC purchased a new position in Invesco Semiconductors ETF during the 4th quarter worth approximately $5,457,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Invesco Semiconductors ETF by 199.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 101,326 shares of the company’s stock worth $7,859,000 after purchasing an additional 67,534 shares in the last quarter.

Invesco Semiconductors ETF Company Profile

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.