Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw unusually-strong trading volume on Tuesday . Approximately 338,372 shares traded hands during trading, an increase of 3% from the previous session’s volume of 329,407 shares.The stock last traded at $41.10 and had previously closed at $42.79.

Invesco PHLX Semiconductor ETF Stock Performance

The business has a 50 day simple moving average of $39.56 and a 200-day simple moving average of $40.09. The stock has a market capitalization of $504.51 million, a P/E ratio of 29.37 and a beta of 1.56.

Invesco PHLX Semiconductor ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were given a dividend of $0.068 per share. This is a positive change from Invesco PHLX Semiconductor ETF’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, September 23rd. This represents a $0.27 annualized dividend and a dividend yield of 0.67%.

Institutional Investors Weigh In On Invesco PHLX Semiconductor ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Invesco PHLX Semiconductor ETF during the 1st quarter worth about $54,000. Kovack Advisors Inc. raised its position in Invesco PHLX Semiconductor ETF by 28.6% during the first quarter. Kovack Advisors Inc. now owns 16,850 shares of the company’s stock valued at $650,000 after buying an additional 3,750 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Invesco PHLX Semiconductor ETF in the 1st quarter worth about $297,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Invesco PHLX Semiconductor ETF in the 1st quarter valued at about $251,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Invesco PHLX Semiconductor ETF by 15.4% in the first quarter. Oppenheimer & Co. Inc. now owns 37,961 shares of the company’s stock worth $1,465,000 after purchasing an additional 5,054 shares in the last quarter.

Invesco PHLX Semiconductor ETF Company Profile

The Invesco PHLX Semiconductor ETF (SOXQ) is an exchange-traded fund that is based on the PHLX / Semiconductor index, a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXQ was launched on Jun 11, 2021 and is managed by Invesco.