Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Hits New 1-Year High – Should You Buy?

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) shares reached a new 52-week high on Tuesday . The company traded as high as $95.48 and last traded at $95.48, with a volume of 32184 shares traded. The stock had previously closed at $91.82.

Invesco AI and Next Gen Software ETF Stock Up 5.6%

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 28.76 and a beta of 1.35. The stock has a fifty day moving average price of $72.41 and a two-hundred day moving average price of $64.91.

Institutional Investors Weigh In On Invesco AI and Next Gen Software ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in IGPT. Assetmark Inc. acquired a new position in Invesco AI and Next Gen Software ETF in the first quarter valued at about $32,000. SOA Wealth Advisors LLC. raised its stake in Invesco AI and Next Gen Software ETF by 71.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 570 shares of the company’s stock valued at $34,000 after purchasing an additional 237 shares in the last quarter. GGM Financials LLC acquired a new position in Invesco AI and Next Gen Software ETF in the third quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in Invesco AI and Next Gen Software ETF in the fourth quarter valued at about $34,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Invesco AI and Next Gen Software ETF in the fourth quarter valued at about $43,000.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.