Invesco Solar ETF (NYSEARCA:TAN) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Invesco Solar ETF (NYSEARCA:TAN)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $50.87 and traded as high as $59.40. Invesco Solar ETF shares last traded at $58.10, with a volume of 3,544,993 shares traded.

Invesco Solar ETF Stock Up 4.5%

The firm has a 50 day moving average of $50.87 and a two-hundred day moving average of $46.23. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 18.04 and a beta of 1.37.

Hedge Funds Weigh In On Invesco Solar ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAN. West Tower Group LLC acquired a new stake in Invesco Solar ETF in the fourth quarter valued at approximately $270,000. Nwam LLC boosted its holdings in shares of Invesco Solar ETF by 226.2% during the 4th quarter. Nwam LLC now owns 54,899 shares of the exchange traded fund’s stock valued at $2,912,000 after acquiring an additional 38,071 shares in the last quarter. Maxi Investments CY Ltd bought a new stake in Invesco Solar ETF during the 4th quarter worth $1,127,000. SBI Securities Co. Ltd. increased its holdings in Invesco Solar ETF by 62.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 553 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 212 shares in the last quarter. Finally, Verity Asset Management Inc. raised its position in Invesco Solar ETF by 5.4% in the fourth quarter. Verity Asset Management Inc. now owns 15,980 shares of the exchange traded fund’s stock valued at $785,000 after purchasing an additional 813 shares during the last quarter.

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.