Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 12-Month High – Here’s Why

Shares of Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) hit a new 52-week high on Wednesday . The stock traded as high as $48.85 and last traded at $48.78, with a volume of 399797 shares changing hands. The stock had previously closed at $47.87.

Invesco S&P 500 Top 50 ETF Price Performance

The stock’s fifty day moving average is $47.12 and its 200-day moving average is $45.43. The stock has a market cap of $4.79 billion, a PE 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 and other institutional investors have recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. purchased a new position in shares of Invesco S&P 500 Top 50 ETF during the 2nd quarter worth approximately $33,242,000. Thrivent Financial for Lutherans grew its stake in shares of Invesco S&P 500 Top 50 ETF by 868.3% in the second quarter. Thrivent Financial for Lutherans now owns 664,259 shares of the company’s stock valued at $30,389,000 after buying an additional 595,661 shares in the last quarter. Bricktown Capital LLC purchased a new stake in shares of Invesco S&P 500 Top 50 ETF in the 2nd quarter valued at $27,172,000. Wealth Enhancement Advisory Services LLC lifted its stake in Invesco S&P 500 Top 50 ETF by 4,253.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 601,146 shares of the company’s stock worth $27,502,000 after acquiring an additional 587,337 shares in the last quarter. Finally, LPL Financial LLC grew its position in Invesco S&P 500 Top 50 ETF by 6.6% in the 2nd quarter. LPL Financial LLC now owns 7,237,697 shares of the company’s stock valued at $331,125,000 after acquiring an additional 448,925 shares in the last quarter.

About Invesco S&P 500 Top 50 ETF

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.