Invesco Solar ETF Target of Unusually Large Options Trading (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) was the recipient of unusually large options trading on Monday. Traders purchased 4,087 call options on the company. This represents an increase of 95% compared to the typical volume of 2,101 call options.

Institutional Investors Weigh In On Invesco Solar ETF

A number of hedge funds have recently made changes to their positions in TAN. HighTower Advisors LLC boosted its stake in shares of Invesco Solar ETF by 16.5% in the 1st quarter. HighTower Advisors LLC now owns 11,920 shares of the exchange traded fund’s stock valued at $363,000 after purchasing an additional 1,689 shares in the last quarter. DRW Securities LLC bought a new stake in Invesco Solar ETF in the first quarter worth $430,000. Goldman Sachs Group Inc. lifted its stake in Invesco Solar ETF by 72.0% in the first quarter. Goldman Sachs Group Inc. now owns 265,917 shares of the exchange traded fund’s stock worth $8,100,000 after purchasing an additional 111,322 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Invesco Solar ETF by 23.9% during the second quarter. Perigon Wealth Management LLC now owns 11,406 shares of the exchange traded fund’s stock valued at $391,000 after buying an additional 2,200 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in shares of Invesco Solar ETF during the second quarter valued at about $44,000.

Invesco Solar ETF Stock Down 1.4%

Shares of NYSEARCA TAN traded down $0.70 during trading hours on Monday, reaching $50.13. 924,588 shares of the stock traded hands, compared to its average volume of 873,988. The company’s 50-day simple moving average is $48.55 and its two-hundred day simple moving average is $43.00. The company has a market capitalization of $963.00 million, a P/E ratio of 18.04 and a beta of 1.37. Invesco Solar ETF has a 52-week low of $25.53 and a 52-week high of $53.68.

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.