Invesco Solar ETF (NYSEARCA:TAN) Hits New 52-Week High – Here’s What Happened

Shares of Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week high on Tuesday . The company traded as high as $59.69 and last traded at $59.4840, with a volume of 382759 shares trading hands. The stock had previously closed at $57.92.

Invesco Solar ETF Price Performance

The business has a 50 day moving average of $52.46 and a 200 day moving average of $47.36. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 18.04 and a beta of 1.37.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TAN. Goldman Sachs Group Inc. raised its holdings in Invesco Solar ETF by 72.0% in the first quarter. Goldman Sachs Group Inc. now owns 265,917 shares of the exchange traded fund’s stock worth $8,100,000 after purchasing an additional 111,322 shares during the period. Wealthfront Advisers LLC increased its position in shares of Invesco Solar ETF by 9.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 8,154 shares of the exchange traded fund’s stock valued at $279,000 after buying an additional 722 shares in the last quarter. Allworth Financial LP raised its stake in Invesco Solar ETF by 133.3% during the 2nd quarter. Allworth Financial LP now owns 875 shares of the exchange traded fund’s stock worth $30,000 after buying an additional 500 shares during the period. Nwam LLC lifted its holdings in Invesco Solar ETF by 22.0% during the second quarter. Nwam LLC now owns 13,250 shares of the exchange traded fund’s stock worth $454,000 after acquiring an additional 2,385 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Invesco Solar ETF by 3,574.1% in the second quarter. SG Americas Securities LLC now owns 142,702 shares of the exchange traded fund’s stock worth $4,889,000 after acquiring an additional 138,818 shares in the last quarter.

Invesco Solar ETF Company Profile

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.