Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Reaches New 12-Month High – Should You Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s share price hit a new 52-week high on Tuesday. The stock traded as high as $157.59 and last traded at $157.3070, with a volume of 56278 shares changing hands. The stock had previously closed at $155.57.

Invesco S&P 500 High Beta ETF Price Performance

The firm’s fifty day moving average is $147.61 and its two-hundred day moving average is $141.59. The firm has a market cap of $983.21 million, a price-to-earnings ratio of 20.84 and a beta of 1.44.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Hedge funds have recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of Invesco S&P 500 High Beta ETF by 43.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 328 shares of the company’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. Continuum Advisory LLC acquired a new stake in Invesco S&P 500 High Beta ETF during the second quarter valued at approximately $78,000. Independent Financial Group LLC bought a new stake in Invesco S&P 500 High Beta ETF during the first quarter worth approximately $235,000. Focus Financial Network Inc. acquired a new position in Invesco S&P 500 High Beta ETF in the second quarter worth approximately $264,000. Finally, Midwest Financial Network LLC acquired a new stake in shares of Invesco S&P 500 High Beta ETF during the 1st quarter valued at $285,000.

Invesco S&P 500 High Beta ETF Company Profile

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.