Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 52-Week High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) hit a new 52-week high on Friday . The company traded as high as $60.65 and last traded at $60.65, with a volume of 1201960 shares. The stock had previously closed at $59.94.

Invesco S&P 500 Top 50 ETF Stock Performance

The firm has a market capitalization of $10.67 billion, a P/E ratio of 27.80 and a beta of 1.05. The business has a 50 day simple moving average of $56.72 and a two-hundred day simple moving average of $58.10.

Hedge Funds Weigh In On Invesco S&P 500 Top 50 ETF

Several institutional investors have recently modified their holdings of XLG. JPMorgan Chase & Co. increased its position in shares of Invesco S&P 500 Top 50 ETF by 53.6% during the 3rd 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 last quarter. Osaic Holdings Inc. increased its position in shares of Invesco S&P 500 Top 50 ETF by 66.1% during the 4th quarter. Osaic Holdings Inc. now owns 2,838,230 shares of the company’s stock valued at $168,251,000 after purchasing an additional 1,129,519 shares during the last quarter. LPL Financial LLC increased its position in shares of Invesco S&P 500 Top 50 ETF by 8.0% during the 4th quarter. LPL Financial LLC now owns 11,554,356 shares of the company’s stock valued at $684,942,000 after purchasing an additional 856,661 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Invesco S&P 500 Top 50 ETF by 46.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,296,020 shares of the company’s stock valued at $132,108,000 after purchasing an additional 729,356 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Invesco S&P 500 Top 50 ETF by 25.8% during the 2nd quarter. Raymond James Financial Inc. now owns 2,867,532 shares of the company’s stock valued at $149,398,000 after purchasing an additional 588,257 shares during the last quarter.

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. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.