Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Shares Down 0.7% – Should You Sell?

Shares of Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) dropped 0.7% on Tuesday . The stock traded as low as $141.57 and last traded at $141.99. Approximately 361,098 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 355,831 shares. The stock had previously closed at $143.03.

Invesco S&P 500 High Beta ETF Price Performance

The firm has a market capitalization of $983.99 million, a PE ratio of 20.84 and a beta of 1.42. The business’s 50 day moving average is $145.85 and its two-hundred day moving average is $138.56.

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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Planning Group LLC increased its holdings in shares of Invesco S&P 500 High Beta ETF by 43.9% in the first quarter. Cornerstone Planning Group LLC now owns 328 shares of the company’s stock worth $38,000 after buying an additional 100 shares during the period. Continuum Advisory LLC bought a new stake in shares of Invesco S&P 500 High Beta ETF in the 2nd quarter valued at about $78,000. Focus Financial Network Inc. bought a new position in Invesco S&P 500 High Beta ETF during the 2nd quarter worth approximately $264,000. Independent Financial Group LLC bought a new position in Invesco S&P 500 High Beta ETF during the 1st quarter worth approximately $235,000. Finally, Axxcess Wealth Management LLC purchased a new position in Invesco S&P 500 High Beta ETF in the 4th quarter worth approximately $274,000.

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.