Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Hits New 12-Month High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $50.00 and last traded at $50.00, with a volume of 1963 shares trading hands. The stock had previously closed at $49.67.

Invesco S&P 500 Top 50 ETF Trading Down 1.8 %

The firm has a market cap of $4.73 billion, a P/E ratio of 2.92 and a beta of 1.08. The stock’s fifty day moving average is $47.64 and its two-hundred day moving average is $45.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC raised its position in shares of Invesco S&P 500 Top 50 ETF by 29.6% during the 3rd quarter. MML Investors Services LLC now owns 601,157 shares of the company’s stock valued at $28,573,000 after buying an additional 137,194 shares in the last quarter. Laraway Financial Advisors Inc increased its stake in Invesco S&P 500 Top 50 ETF by 4.1% in the third quarter. Laraway Financial Advisors Inc now owns 59,674 shares of the company’s stock valued at $2,836,000 after acquiring an additional 2,368 shares during the last quarter. Insigneo Advisory Services LLC purchased a new stake in Invesco S&P 500 Top 50 ETF during the third quarter valued at about $571,000. Quantinno Capital Management LP bought a new stake in Invesco S&P 500 Top 50 ETF during the third quarter worth about $716,000. Finally, Pinnacle Family Advisors LLC purchased a new position in shares of Invesco S&P 500 Top 50 ETF in the 3rd quarter worth about $5,248,000.

Invesco S&P 500 Top 50 ETF Company Profile

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.