Invesco Solar ETF (NYSEARCA:TAN) Reaches New 1-Year High – Here’s What Happened

Invesco Solar ETF (NYSEARCA:TAN)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $59.42 and last traded at $59.4210, with a volume of 553967 shares trading hands. The stock had previously closed at $58.72.

Invesco Solar ETF Trading Up 0.7%

The stock has a 50-day simple moving average of $51.43 and a 200 day simple moving average of $46.66. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 18.04 and a beta of 1.37.

Institutional Investors Weigh In On Invesco Solar ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAN. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco Solar ETF by 95,252.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,423,380 shares of the exchange traded fund’s stock valued at $217,276,000 after acquiring an additional 4,418,741 shares in the last quarter. Citigroup Inc. grew its stake in Invesco Solar ETF by 719.1% in the third quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock valued at $38,729,000 after purchasing an additional 779,301 shares in the last quarter. Trek Financial LLC acquired a new stake in shares of Invesco Solar ETF during the 3rd quarter valued at about $16,180,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Invesco Solar ETF during the 4th quarter valued at about $17,986,000. Finally, Millennium Management LLC bought a new stake in shares of Invesco Solar ETF in the 3rd quarter valued at approximately $14,901,000.

Invesco Solar ETF Company Profile

Guggenheim Solar ETF, formerly Claymore/MAC Global Solar Energy Index ETF, seeks investment results that correspond generally to the performance of an equity index called the MAC Global Solar Energy Index (the Index). The Index consists of approximately 25 stocks selected based on the relative importance of solar power within the Company’s business model, as determined by MAC Indexing LLC (the Index Provider). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.