Invesco Semiconductors ETF (NYSEARCA:PSI) Reaches New 12-Month High – Should You Buy?

Invesco Semiconductors ETF (NYSEARCA:PSI) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $97.18 and last traded at $96.8260, with a volume of 14208 shares trading hands. The stock had previously closed at $96.34.

Invesco Semiconductors ETF Price Performance

The stock has a market cap of $1.22 billion, a P/E ratio of 29.05 and a beta of 1.57. The stock’s 50 day simple moving average is $83.09 and its two-hundred day simple moving average is $73.21.

Hedge Funds Weigh In On Invesco Semiconductors ETF

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Invesco Semiconductors ETF by 16.9% in the 1st quarter. Royal Bank of Canada now owns 91,275 shares of the company’s stock valued at $4,325,000 after purchasing an additional 13,163 shares during the period. Jane Street Group LLC acquired a new stake in Invesco Semiconductors ETF in the 1st quarter valued at approximately $540,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Invesco Semiconductors ETF in the 2nd quarter valued at approximately $202,000. Farther Finance Advisors LLC raised its position in Invesco Semiconductors ETF by 458.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,005 shares of the company’s stock valued at $60,000 after buying an additional 825 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Invesco Semiconductors ETF in the 2nd quarter valued at approximately $249,000.

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.