Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sets New 12-Month High – Time to Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $90.56 and last traded at $90.46, with a volume of 82447 shares changing hands. The stock had previously closed at $89.45.

Invesco S&P 500 High Beta ETF Stock Performance

The stock’s 50-day simple moving average is $84.83 and its 200-day simple moving average is $84.63. The firm has a market capitalization of $641.98 million, a PE ratio of 22.23 and a beta of 1.48.

Institutional Trading of Invesco S&P 500 High Beta ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the 2nd quarter worth about $74,000. MGB Wealth Management LLC grew its position in shares of Invesco S&P 500 High Beta ETF by 17.2% in the 1st quarter. MGB Wealth Management LLC now owns 2,552 shares of the company’s stock worth $224,000 after buying an additional 375 shares during the period. XML Financial LLC grew its position in shares of Invesco S&P 500 High Beta ETF by 4.4% in the 4th quarter. XML Financial LLC now owns 3,229 shares of the company’s stock worth $266,000 after buying an additional 136 shares during the period. Ignite Planners LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the 1st quarter worth about $338,000. Finally, Hanlon Investment Management Inc. purchased a new stake in Invesco S&P 500 High Beta ETF during the 1st quarter valued at about $383,000.

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.