Invesco Solar ETF (NYSEARCA:TAN) Shares Cross Above 50-Day Moving Average – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $50.87 and traded as high as $59.40. Invesco Solar ETF shares last traded at $58.10, with a volume of 3,544,993 shares trading hands.

Invesco Solar ETF Trading Up 4.5%

The stock has a market cap of $1.48 billion, a P/E ratio of 18.04 and a beta of 1.37. The stock has a 50 day simple moving average of $50.87 and a 200 day simple moving average of $46.23.

Institutional Investors Weigh In On Invesco Solar ETF

A number of large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in shares of Invesco Solar ETF by 62.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 553 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 212 shares in the last quarter. Assetmark Inc. bought a new position in Invesco Solar ETF in the fourth quarter valued at approximately $29,000. Allworth Financial LP raised its position in Invesco Solar ETF by 133.3% during the second quarter. Allworth Financial LP now owns 875 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Invesco Solar ETF during the fourth quarter worth $35,000. Finally, Johnson Financial Group Inc. bought a new stake in Invesco Solar ETF during the second quarter worth $39,000.

About Invesco Solar ETF

Guggenheim Solar ETF, formerly Claymore/MAC Global Solar Energy Index ETF, seeks investment results that correspond generally to the performance of an equity index called the MAC Global Solar Energy Index (the Index). The Index consists of approximately 25 stocks selected based on the relative importance of solar power within the Company’s business model, as determined by MAC Indexing LLC (the Index Provider). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.