Invesco Solar ETF (NYSEARCA:TAN) Reaches New 52-Week Low – Should You Sell?

Shares of Invesco Solar ETF (NYSEARCA:TAN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.76 and last traded at $30.24, with a volume of 96378 shares changing hands. The stock had previously closed at $31.01.

Invesco Solar ETF Trading Down 2.6 %

The company’s 50 day moving average is $33.24 and its 200-day moving average is $35.79. The firm has a market capitalization of $718.23 million, a price-to-earnings ratio of 17.74 and a beta of 1.54.

Institutional Investors Weigh In On Invesco Solar ETF

Several hedge funds have recently added to or reduced their stakes in the business. Kilter Group LLC acquired a new stake in Invesco Solar ETF during the fourth quarter worth approximately $215,000. GTS Securities LLC grew its position in Invesco Solar ETF by 222.9% in the fourth quarter. GTS Securities LLC now owns 28,074 shares of the exchange traded fund’s stock valued at $930,000 after acquiring an additional 50,921 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Invesco Solar ETF during the 4th quarter valued at approximately $1,461,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Invesco Solar ETF during the 4th quarter valued at $331,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Invesco Solar ETF during the fourth quarter worth about $301,000.

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).