Invesco Solar ETF (NYSEARCA:TAN) Reaches New 52-Week Low – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week low on Thursday . The stock traded as low as $34.40 and last traded at $34.40, with a volume of 117889 shares. The stock had previously closed at $34.84.

Invesco Solar ETF Stock Down 0.7 %

The company’s fifty day moving average price is $39.50 and its two-hundred day moving average price is $41.61. The company has a market cap of $833.03 million, a price-to-earnings ratio of 9.19 and a beta of 1.81.

Institutional Trading of Invesco Solar ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. bought a new stake in shares of Invesco Solar ETF during the second quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Invesco Solar ETF by 360.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,620 shares of the exchange traded fund’s stock worth $236,000 after buying an additional 4,400 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Invesco Solar ETF in the 1st quarter valued at $249,000. Bank Hapoalim BM acquired a new stake in shares of Invesco Solar ETF in the 3rd quarter valued at $255,000. Finally, Scientech Research LLC bought a new stake in shares of Invesco Solar ETF during the second quarter worth $262,000.

About Invesco Solar ETF

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).