Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Reaches New 12-Month High – Time to Buy?

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.07 and last traded at $62.9350, with a volume of 1767 shares changing hands. The stock had previously closed at $62.09.

Invesco AI and Next Gen Software ETF Stock Up 0.5%

The company’s fifty day moving average is $59.12 and its two-hundred day moving average is $55.23. The stock has a market cap of $685.69 million, a price-to-earnings ratio of 28.76 and a beta of 1.13.

Institutional Investors Weigh In On Invesco AI and Next Gen Software ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC grew its stake in shares of Invesco AI and Next Gen Software ETF by 7.8% during the third quarter. Journey Strategic Wealth LLC now owns 303,057 shares of the company’s stock valued at $16,374,000 after acquiring an additional 21,899 shares in the last quarter. Berkshire Money Management Inc. grew its stake in Invesco AI and Next Gen Software ETF by 48.2% during the 3rd quarter. Berkshire Money Management Inc. now owns 243,515 shares of the company’s stock valued at $13,157,000 after purchasing an additional 79,172 shares in the last quarter. Bank of America Corp DE raised its position in shares of Invesco AI and Next Gen Software ETF by 5.9% in the 3rd quarter. Bank of America Corp DE now owns 161,385 shares of the company’s stock valued at $8,720,000 after purchasing an additional 8,953 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Invesco AI and Next Gen Software ETF by 21.7% during the 2nd quarter. Osaic Holdings Inc. now owns 119,935 shares of the company’s stock valued at $5,894,000 after buying an additional 21,361 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Invesco AI and Next Gen Software ETF by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 114,532 shares of the company’s stock worth $6,188,000 after buying an additional 19,305 shares during the last quarter.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.