Invesco Solar ETF (NYSEARCA:TAN) Reaches New 52-Week High – Here’s What Happened

Invesco Solar ETF (NYSEARCA:TAN)’s share price reached a new 52-week high on Thursday . The stock traded as high as $64.55 and last traded at $63.81, with a volume of 1976788 shares trading hands. The stock had previously closed at $61.65.

Invesco Solar ETF Stock Up 3.5%

The company’s 50 day moving average price is $56.42 and its two-hundred day moving average price is $53.42. The stock has a market cap of $1.76 billion, a P/E ratio of 18.04 and a beta of 1.29.

Institutional Trading of Invesco Solar ETF

Several institutional investors and hedge funds have recently modified their holdings of TAN. CIBC Private Wealth Group LLC bought a new stake in shares of Invesco Solar ETF during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. raised its stake in shares of Invesco Solar ETF by 62.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 553 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 212 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Invesco Solar ETF during the fourth quarter valued at approximately $28,000. Assetmark Inc. bought a new stake in shares of Invesco Solar ETF during the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Invesco Solar ETF during the fourth quarter valued at approximately $35,000.

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.