Invesco Solar ETF (NYSEARCA:TAN) Reaches New 12-Month High – Still a Buy?

Invesco Solar ETF (NYSEARCA:TAN) shares hit a new 52-week high on Thursday . The stock traded as high as $71.31 and last traded at $70.51, with a volume of 2641341 shares changing hands. The stock had previously closed at $68.96.

Invesco Solar ETF Price Performance

The company has a market cap of $1.94 billion, a P/E ratio of 18.04 and a beta of 1.29. The company’s 50-day moving average is $58.51 and its two-hundred day moving average is $54.56.

Institutional Investors Weigh In On Invesco Solar ETF

Institutional investors have recently modified their holdings of the business. Florin Court Capital LLP purchased a new stake in shares of Invesco Solar ETF during the third quarter valued at $5,135,000. Citigroup Inc. boosted its position in shares of Invesco Solar ETF by 719.1% during the third quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock valued at $38,729,000 after buying an additional 779,301 shares during the last quarter. Black Swift Group LLC purchased a new stake in shares of Invesco Solar ETF during the third quarter valued at $3,657,000. Natural Investments LLC purchased a new stake in shares of Invesco Solar ETF during the fourth quarter valued at $966,000. Finally, SG Americas Securities LLC lifted its holdings in Invesco Solar ETF by 516.1% in the fourth quarter. SG Americas Securities LLC now owns 87,523 shares of the exchange traded fund’s stock valued at $4,299,000 after acquiring an additional 73,318 shares during the period.

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.