Stock Traders Buy Large Volume of Call Options on Invesco Solar ETF (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) was the target of some unusual options trading on Tuesday. Stock traders bought 17,517 call options on the company. This represents an increase of approximately 1,024% compared to the average daily volume of 1,559 call options.

Hedge Funds Weigh In On Invesco Solar ETF

A number of large investors have recently modified their holdings of TAN. Clal Insurance Enterprises Holdings Ltd acquired a new position in Invesco Solar ETF during the 1st quarter worth about $99,186,000. Bank of America Corp DE increased its holdings in Invesco Solar ETF by 9.5% in the first quarter. Bank of America Corp DE now owns 325,356 shares of the exchange traded fund’s stock worth $18,126,000 after purchasing an additional 28,203 shares in the last quarter. Ayalon Insurance Comp Ltd. increased its holdings in Invesco Solar ETF by 338.4% in the third quarter. Ayalon Insurance Comp Ltd. now owns 172,300 shares of the exchange traded fund’s stock worth $7,576,000 after purchasing an additional 133,000 shares in the last quarter. NTV Asset Management LLC acquired a new position in Invesco Solar ETF in the third quarter valued at approximately $4,401,000. Finally, Private Advisor Group LLC boosted its holdings in shares of Invesco Solar ETF by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 99,984 shares of the exchange traded fund’s stock worth $5,570,000 after buying an additional 5,337 shares in the last quarter.

Invesco Solar ETF Stock Up 3.0%

Invesco Solar ETF stock traded up $1.26 during mid-day trading on Tuesday, hitting $43.33. 2,740,592 shares of the company’s stock were exchanged, compared to its average volume of 1,262,685. The company’s 50 day simple moving average is $44.66 and its 200-day simple moving average is $53.96. The firm has a market capitalization of $936.43 million, a P/E ratio of 18.04 and a beta of 1.41. Invesco Solar ETF has a fifty-two week low of $39.56 and a fifty-two week high of $75.60.

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.