Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 52-Week High – Should You Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.80 and last traded at $51.67, with a volume of 2508 shares. The stock had previously closed at $51.61.

Invesco S&P 500 Top 50 ETF Stock Performance

The firm has a 50 day simple moving average of $50.75 and a 200 day simple moving average of $48.57. The firm has a market cap of $5.03 billion, a P/E ratio of 2.92 and a beta of 1.08.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Several hedge funds have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in Invesco S&P 500 Top 50 ETF in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new stake in Invesco S&P 500 Top 50 ETF during the 4th quarter valued at $30,000. Abound Wealth Management purchased a new stake in Invesco S&P 500 Top 50 ETF during the 4th quarter valued at $30,000. Millstone Evans Group LLC bought a new stake in Invesco S&P 500 Top 50 ETF in the 4th quarter worth $32,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Invesco S&P 500 Top 50 ETF in the fourth quarter valued at about $34,000.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index.