Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Hits New 12-Month High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.12 and last traded at $62.12, with a volume of 235517 shares traded. The stock had previously closed at $61.36.

Invesco S&P 500 Top 50 ETF Trading Up 1.6%

The business has a 50 day moving average of $57.16 and a 200-day moving average of $58.24. The stock has a market cap of $10.98 billion, a PE ratio of 27.80 and a beta of 1.05.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Birchbrook Inc. purchased a new position in Invesco S&P 500 Top 50 ETF during the 4th quarter worth $27,000. Deutsche Bank AG purchased a new position in Invesco S&P 500 Top 50 ETF during the 4th quarter worth $27,000. MCF Advisors LLC purchased a new position in Invesco S&P 500 Top 50 ETF during the 3rd quarter worth $27,000. Group One Trading LLC grew its position in Invesco S&P 500 Top 50 ETF by 100.9% during the 4th quarter. Group One Trading LLC now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 57,871 shares during the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in Invesco S&P 500 Top 50 ETF during the 4th quarter worth $30,000.

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.