Invesco Solar ETF (NYSEARCA:TAN) Shares Cross Above 50-Day Moving Average – Time to Sell?

Invesco Solar ETF (NYSEARCA:TAN)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $53.87 and traded as high as $60.95. Invesco Solar ETF shares last traded at $60.53, with a volume of 3,341,533 shares trading hands.

Invesco Solar ETF Price Performance

The firm has a market cap of $1.55 billion, a P/E ratio of 18.04 and a beta of 1.37. The company’s 50-day simple moving average is $53.87 and its 200 day simple moving average is $48.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAN. Capital Investment Advisors LLC bought a new stake in shares of Invesco Solar ETF in the 3rd quarter valued at approximately $491,000. Florin Court Capital LLP purchased a new stake in Invesco Solar ETF during the 3rd quarter valued at $5,135,000. Corient Private Wealth LLC purchased a new stake in Invesco Solar ETF during the 2nd quarter valued at $550,000. Trek Financial LLC bought a new stake in Invesco Solar ETF in the third quarter worth $16,180,000. Finally, Citigroup Inc. boosted its stake in Invesco Solar ETF by 719.1% during the third quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock worth $38,729,000 after buying an additional 779,301 shares during the period.

About Invesco Solar ETF

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.