Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sees Unusually-High Trading Volume – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) shares saw strong trading volume on Tuesday . 2,323,065 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,234,793 shares.The stock last traded at $57.3980 and had previously closed at $58.22.

Invesco S&P 500 Top 50 ETF Trading Down 1.0%

The company has a market capitalization of $11.08 billion, a P/E ratio of 27.80 and a beta of 1.03. The stock has a 50 day moving average price of $58.04 and a 200 day moving average price of $54.02.

Institutional Trading of Invesco S&P 500 Top 50 ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Soundwatch Capital LLC purchased a new position in Invesco S&P 500 Top 50 ETF in the second quarter valued at about $1,790,000. Invesco Ltd. grew its holdings in shares of Invesco S&P 500 Top 50 ETF by 212.9% during the 1st quarter. Invesco Ltd. now owns 3,363,435 shares of the company’s stock valued at $154,785,000 after purchasing an additional 2,288,508 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Invesco S&P 500 Top 50 ETF by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 3,786,602 shares of the company’s stock valued at $217,805,000 after purchasing an additional 1,321,856 shares during the period. Principle Wealth Partners LLC lifted its stake in Invesco S&P 500 Top 50 ETF by 85.0% in the second quarter. Principle Wealth Partners LLC now owns 2,682,223 shares of the company’s stock worth $139,744,000 after acquiring an additional 1,232,337 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco S&P 500 Top 50 ETF by 225.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,720,414 shares of the company’s stock worth $79,173,000 after buying an additional 1,192,557 shares during the period.

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.