Invesco Semiconductors ETF (NYSEARCA:PSI) Reaches New 12-Month High – Should You Buy?

Invesco Semiconductors ETF (NYSEARCA:PSI)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $112.65 and last traded at $112.65, with a volume of 187186 shares. The stock had previously closed at $110.44.

Invesco Semiconductors ETF Stock Performance

The company has a market cap of $1.55 billion, a price-to-earnings ratio of 29.05 and a beta of 1.56. The firm’s 50-day moving average price is $98.91 and its 200 day moving average price is $86.69.

Hedge Funds Weigh In On Invesco Semiconductors ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Invesco Semiconductors ETF by 205.5% during the fourth quarter. HighTower Advisors LLC now owns 543,240 shares of the company’s stock worth $42,840,000 after purchasing an additional 365,438 shares in the last quarter. LPL Financial LLC boosted its position in shares of Invesco Semiconductors ETF by 12.2% during the fourth quarter. LPL Financial LLC now owns 407,485 shares of the company’s stock worth $32,134,000 after purchasing an additional 44,235 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Invesco Semiconductors ETF by 33.2% during the second quarter. Captrust Financial Advisors now owns 243,386 shares of the company’s stock worth $14,593,000 after purchasing an additional 60,614 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Invesco Semiconductors ETF by 21.8% during the third quarter. Bank of America Corp DE now owns 230,135 shares of the company’s stock worth $16,184,000 after purchasing an additional 41,215 shares in the last quarter. Finally, Warner Group LLC bought a new position in shares of Invesco Semiconductors ETF during the third quarter worth $13,566,000.

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.