Invesco Semiconductors ETF (NYSEARCA:PSI) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Invesco Semiconductors ETF (NYSEARCA:PSI) saw unusually-high trading volume on Tuesday . Approximately 859,753 shares changed hands during trading, an increase of 193% from the previous session’s volume of 293,134 shares.The stock last traded at $170.15 and had previously closed at $175.60.

Invesco Semiconductors ETF Stock Performance

The company has a market capitalization of $2.54 billion, a P/E ratio of 29.05 and a beta of 1.80. The firm’s fifty day moving average is $139.19 and its 200 day moving average is $107.61.

Hedge Funds Weigh In On Invesco Semiconductors ETF

Several hedge funds have recently added to or reduced their stakes in PSI. BIP Wealth LLC purchased a new stake in shares of Invesco Semiconductors ETF in the 4th quarter worth approximately $1,913,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Invesco Semiconductors ETF in the 4th quarter worth approximately $618,000. HighTower Advisors LLC lifted its position in shares of Invesco Semiconductors ETF by 205.5% in the 4th quarter. HighTower Advisors LLC now owns 543,240 shares of the company’s stock worth $42,840,000 after purchasing an additional 365,438 shares during the period. Truist Financial Corp lifted its position in shares of Invesco Semiconductors ETF by 863.8% in the 4th quarter. Truist Financial Corp now owns 45,981 shares of the company’s stock worth $3,626,000 after purchasing an additional 41,210 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in shares of Invesco Semiconductors ETF by 21.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 42,262 shares of the company’s stock worth $2,972,000 after purchasing an additional 7,521 shares during the period.

Invesco Semiconductors ETF Company Profile

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.