Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Hits New 12-Month High – What’s Next?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $134.95 and last traded at $134.95, with a volume of 916 shares traded. The stock had previously closed at $134.71.

Invesco S&P 500 High Beta ETF Stock Performance

The company has a 50-day simple moving average of $121.90 and a 200-day simple moving average of $118.68. The company has a market cap of $751.44 million, a price-to-earnings ratio of 20.84 and a beta of 1.37.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPHB. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Invesco S&P 500 High Beta ETF by 4,310.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 382,849 shares of the company’s stock worth $44,422,000 after acquiring an additional 374,168 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Invesco S&P 500 High Beta ETF by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 381,649 shares of the company’s stock worth $44,642,000 after acquiring an additional 164,522 shares in the last quarter. Axiom Financial Strategies LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF during the 3rd quarter worth approximately $14,891,000. Bank Hapoalim BM purchased a new stake in shares of Invesco S&P 500 High Beta ETF during the 3rd quarter worth approximately $9,443,000. Finally, PFG Advisors boosted its stake in shares of Invesco S&P 500 High Beta ETF by 835.6% during the 3rd quarter. PFG Advisors now owns 93,125 shares of the company’s stock worth $10,225,000 after acquiring an additional 83,172 shares in the last quarter.

About Invesco S&P 500 High Beta ETF

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.