Invesco Semiconductors ETF (NYSEARCA:PSI) Sets New 1-Year High – Here’s Why

Invesco Semiconductors ETF (NYSEARCA:PSI)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $85.36 and last traded at $85.4410, with a volume of 21017 shares changing hands. The stock had previously closed at $82.87.

Invesco Semiconductors ETF Stock Up 4.3%

The business’s 50-day simple moving average is $78.15 and its two-hundred day simple moving average is $69.81. The stock has a market cap of $1.11 billion, a P/E ratio of 29.05 and a beta of 1.57.

Hedge Funds Weigh In On Invesco Semiconductors ETF

A number of large investors have recently made changes to their positions in PSI. Warner Group LLC purchased a new position in Invesco Semiconductors ETF during the third quarter valued at approximately $13,566,000. Ameriprise Financial Inc. grew its position in shares of Invesco Semiconductors ETF by 833.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 151,834 shares of the company’s stock valued at $9,129,000 after purchasing an additional 135,576 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Invesco Semiconductors ETF by 33.2% during the 2nd quarter. Captrust Financial Advisors now owns 243,386 shares of the company’s stock valued at $14,593,000 after purchasing an additional 60,614 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Invesco Semiconductors ETF by 21.8% in the third quarter. Bank of America Corp DE now owns 230,135 shares of the company’s stock worth $16,184,000 after purchasing an additional 41,215 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Invesco Semiconductors ETF in the second quarter worth $2,398,000.

About Invesco Semiconductors ETF

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.