Invesco Solar ETF (NYSEARCA:TAN) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Invesco Solar ETF (NYSEARCA:TAN)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $53.87 and traded as high as $60.95. Invesco Solar ETF shares last traded at $60.53, with a volume of 3,341,533 shares traded.

Invesco Solar ETF Stock Up 0.7%

The company has a market capitalization of $1.55 billion, a PE ratio of 18.04 and a beta of 1.37. The company’s 50 day moving average is $53.87 and its two-hundred day moving average is $48.35.

Institutional Investors Weigh In On Invesco Solar ETF

Hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC bought a new position in Invesco Solar ETF during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. raised its holdings in shares of Invesco Solar ETF by 62.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 553 shares of the exchange traded fund’s stock worth $27,000 after acquiring an additional 212 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Invesco Solar ETF during the 4th quarter worth approximately $28,000. Assetmark Inc. bought a new position in shares of Invesco Solar ETF during the 4th quarter valued at approximately $29,000. Finally, Allworth Financial LP grew its holdings in shares of Invesco Solar ETF by 133.3% in 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.

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.