Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Hits New 52-Week High – Still a Buy?

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $106.79 and last traded at $109.29, with a volume of 1004 shares trading hands. The stock had previously closed at $106.40.

Invesco AI and Next Gen Software ETF Trading Up 2.2%

The company’s 50 day simple moving average is $87.16 and its 200-day simple moving average is $70.46. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.76 and a beta of 1.42.

Institutional Trading of Invesco AI and Next Gen Software ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IGPT. Jane Street Group LLC purchased a new stake in Invesco AI and Next Gen Software ETF in the first quarter valued at approximately $2,152,000. IHT Wealth Management LLC acquired a new position in shares of Invesco AI and Next Gen Software ETF in the 2nd quarter valued at $288,000. Corient Private Wealth LLC grew its stake in shares of Invesco AI and Next Gen Software ETF by 6.3% during the 2nd quarter. Corient Private Wealth LLC now owns 28,414 shares of the company’s stock valued at $1,396,000 after buying an additional 1,677 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Invesco AI and Next Gen Software ETF by 1.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 27,117 shares of the company’s stock worth $1,465,000 after buying an additional 479 shares during the last quarter. Finally, GGM Financials LLC acquired a new stake in shares of Invesco AI and Next Gen Software ETF during the 3rd quarter worth $34,000.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.