Invesco Semiconductors ETF (NYSEARCA:PSI) Reaches New 52-Week High – Still a Buy?

Invesco Semiconductors ETF (NYSEARCA:PSI) hit a new 52-week high during trading on Monday . The company traded as high as $85.36 and last traded at $85.4410, with a volume of 21017 shares. The stock had previously closed at $82.87.

Invesco Semiconductors ETF Stock Up 1.9%

The firm has a market capitalization of $1.07 billion, a PE ratio of 29.05 and a beta of 1.57. The business’s 50-day moving average price is $77.81 and its 200-day moving average price is $69.39.

Hedge Funds Weigh In On Invesco Semiconductors ETF

A number of hedge funds have recently modified their holdings of PSI. Harbor Asset Planning Inc. bought a new stake in shares of Invesco Semiconductors ETF in the 2nd quarter valued at approximately $39,000. Simplex Trading LLC raised its holdings in shares of Invesco Semiconductors ETF by 818.3% during the 2nd quarter. Simplex Trading LLC now owns 753 shares of the company’s stock valued at $45,000 after purchasing an additional 671 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Invesco Semiconductors ETF by 458.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,005 shares of the company’s stock valued at $60,000 after purchasing an additional 825 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Invesco Semiconductors ETF in the 3rd quarter valued at $134,000. Finally, Pacific Sun Financial Corp bought a new stake in Invesco Semiconductors ETF in the third quarter worth $208,000.

About Invesco Semiconductors ETF

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.