Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Hits New 12-Month High – Should You Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) shares hit a new 52-week high on Tuesday . The stock traded as high as $51.80 and last traded at $51.67, with a volume of 2508 shares changing hands. The stock had previously closed at $51.61.

Invesco S&P 500 Top 50 ETF Price Performance

The company has a market cap of $5.02 billion, a P/E ratio of 2.92 and a beta of 1.08. The company’s 50-day moving average is $50.77 and its two-hundred day moving average is $48.65.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Demars Financial Group LLC boosted its stake in shares of Invesco S&P 500 Top 50 ETF by 5,930.2% during the 4th quarter. Demars Financial Group LLC now owns 28,403,144 shares of the company’s stock worth $1,419,021,000 after acquiring an additional 27,932,132 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Invesco S&P 500 Top 50 ETF during the 4th quarter worth $112,591,000. LPL Financial LLC boosted its stake in shares of Invesco S&P 500 Top 50 ETF by 22.5% during the 4th quarter. LPL Financial LLC now owns 9,775,057 shares of the company’s stock worth $488,362,000 after acquiring an additional 1,795,590 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Invesco S&P 500 Top 50 ETF during the 4th quarter worth $53,703,000. Finally, Independent Advisor Alliance purchased a new position in shares of Invesco S&P 500 Top 50 ETF during the 4th quarter worth $38,858,000.

About Invesco S&P 500 Top 50 ETF

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index.