Invesco Solar ETF (NYSEARCA:TAN) Sets New 1-Year Low – Here’s Why

Shares of Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week low on Wednesday . The stock traded as low as $33.79 and last traded at $34.06, with a volume of 66828 shares. The stock had previously closed at $34.01.

Invesco Solar ETF Stock Performance

The company has a 50-day moving average of $39.17 and a 200-day moving average of $41.42. The firm has a market capitalization of $824.84 million, a price-to-earnings ratio of 9.19 and a beta of 1.81.

Institutional Trading of Invesco Solar ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd boosted its stake in Invesco Solar ETF by 205.9% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,600,000 shares of the exchange traded fund’s stock valued at $112,086,000 after purchasing an additional 1,750,000 shares during the period. Jane Street Group LLC boosted its position in shares of Invesco Solar ETF by 47.2% in the first quarter. Jane Street Group LLC now owns 454,032 shares of the exchange traded fund’s stock valued at $20,599,000 after acquiring an additional 145,625 shares during the period. National Bank of Canada FI grew its stake in shares of Invesco Solar ETF by 203.3% in the third quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock valued at $19,305,000 after acquiring an additional 300,149 shares in the last quarter. Greenwood Gearhart Inc. raised its stake in Invesco Solar ETF by 2.6% in the 2nd quarter. Greenwood Gearhart Inc. now owns 138,964 shares of the exchange traded fund’s stock worth $5,588,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Invesco Solar ETF by 698.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 123,936 shares of the exchange traded fund’s stock worth $4,983,000 after purchasing an additional 108,411 shares in the last quarter.

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).