Invesco Solar ETF (NYSEARCA:TAN) Sees Strong Trading Volume – Should You Buy?

Invesco Solar ETF (NYSEARCA:TAN) shares saw unusually-high trading volume on Tuesday . Approximately 1,060,828 shares were traded during trading, an increase of 8% from the previous session’s volume of 980,528 shares.The stock last traded at $36.76 and had previously closed at $35.55.

Invesco Solar ETF Price Performance

The company has a market cap of $850.38 million, a price-to-earnings ratio of 9.19 and a beta of 1.81. The business’s 50-day simple moving average is $35.58 and its 200-day simple moving average is $38.83.

Institutional Investors Weigh In On Invesco Solar ETF

A number of hedge funds and other institutional investors have recently modified their holdings of TAN. Sanctuary Advisors LLC purchased a new position in Invesco Solar ETF during the second quarter worth about $713,000. Private Advisor Group LLC raised its position in shares of Invesco Solar ETF by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 15,329 shares of the exchange traded fund’s stock worth $661,000 after buying an additional 333 shares during the period. National Bank of Canada FI boosted its holdings in 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 during the last quarter. Scientech Research LLC purchased a new position in shares of Invesco Solar ETF in the 2nd quarter worth about $262,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Invesco Solar ETF during the third quarter valued at approximately $1,033,000.

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).