Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Reaches New 52-Week High – Should You Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s share price reached a new 52-week high during trading on Monday. The stock traded as high as $64.81 and last traded at $64.8240, with a volume of 590338 shares changing hands. The stock had previously closed at $64.25.

Invesco S&P 500 Top 50 ETF Stock Performance

The stock has a 50 day moving average of $62.63 and a 200-day moving average of $61.09. The firm has a market capitalization of $11.88 billion, a P/E ratio of 27.80 and a beta of 1.06.

Institutional Trading of Invesco S&P 500 Top 50 ETF

Several institutional investors and hedge funds have recently made changes to their positions in XLG. LPL Financial LLC raised its position in Invesco S&P 500 Top 50 ETF by 8.0% during the fourth quarter. LPL Financial LLC now owns 11,554,356 shares of the company’s stock valued at $684,942,000 after purchasing an additional 856,661 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Invesco S&P 500 Top 50 ETF by 1,359.5% during the 4th quarter. Brown Advisory Inc. now owns 560,799 shares of the company’s stock valued at $33,244,000 after purchasing an additional 522,375 shares during the last quarter. Polaris Financial Partners bought a new position in shares of Invesco S&P 500 Top 50 ETF during the 3rd quarter valued at about $21,423,000. Green Ridge Wealth Planning LLC purchased a new position in shares of Invesco S&P 500 Top 50 ETF during the 4th quarter valued at about $12,782,000. Finally, JNBA Financial Advisors raised its holdings in shares of Invesco S&P 500 Top 50 ETF by 15,731.8% during the 2nd quarter. JNBA Financial Advisors now owns 197,898 shares of the company’s stock valued at $12,117,000 after buying an additional 196,648 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.