Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Hits New 1-Year High – Here’s Why

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHBGet Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $121.35 and last traded at $121.5870, with a volume of 181646 shares changing hands. The stock had previously closed at $119.03.

Invesco S&P 500 High Beta ETF Trading Up 2.0%

The business’s 50-day simple moving average is $114.85 and its 200-day simple moving average is $108.39. The company has a market capitalization of $615.37 million, a PE ratio of 20.84 and a beta of 1.47.

Institutional Investors Weigh In On Invesco S&P 500 High Beta ETF

Several hedge funds have recently added to or reduced their stakes in SPHB. Royal Bank of Canada raised its stake in shares of Invesco S&P 500 High Beta ETF by 13.3% during the 1st quarter. Royal Bank of Canada now owns 137,049 shares of the company’s stock valued at $10,726,000 after buying an additional 16,132 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Invesco S&P 500 High Beta ETF by 1,500.2% during the first quarter. Jones Financial Companies Lllp now owns 76,121 shares of the company’s stock worth $5,957,000 after acquiring an additional 71,364 shares during the period. Coppell Advisory Solutions LLC raised its position in Invesco S&P 500 High Beta ETF by 5,429.8% during the first quarter. Coppell Advisory Solutions LLC now owns 26,377 shares of the company’s stock valued at $2,064,000 after acquiring an additional 25,900 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Invesco S&P 500 High Beta ETF in the second quarter valued at approximately $213,000. Finally, Sowell Financial Services LLC purchased a new stake in Invesco S&P 500 High Beta ETF in the 2nd quarter worth approximately $1,278,000.

About Invesco S&P 500 High Beta ETF

(Get Free Report)

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.

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