Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Reaches New 52-Week High – Here’s Why

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.12 and last traded at $62.12, with a volume of 235517 shares traded. The stock had previously closed at $61.36.

Invesco S&P 500 Top 50 ETF Stock Performance

The company’s 50-day simple moving average is $57.16 and its 200-day simple moving average is $58.24. The company has a market capitalization of $10.98 billion, a PE ratio of 27.80 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XLG. JPMorgan Chase & Co. grew its stake in shares of Invesco S&P 500 Top 50 ETF by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,786,602 shares of the company’s stock valued at $217,805,000 after purchasing an additional 1,321,856 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 66.1% in the fourth quarter. Osaic Holdings Inc. now owns 2,838,230 shares of the company’s stock valued at $168,251,000 after acquiring an additional 1,129,519 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 8.0% in the fourth quarter. LPL Financial LLC now owns 11,554,356 shares of the company’s stock valued at $684,942,000 after acquiring an additional 856,661 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 46.6% in the third quarter. Ameriprise Financial Inc. now owns 2,296,020 shares of the company’s stock valued at $132,108,000 after acquiring an additional 729,356 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 25.8% in the second quarter. Raymond James Financial Inc. now owns 2,867,532 shares of the company’s stock valued at $149,398,000 after acquiring an additional 588,257 shares in the last quarter.

About Invesco S&P 500 Top 50 ETF

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.