Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Reaches New 12-Month High – Should You Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) reached a new 52-week high during trading on Monday . The stock traded as high as $124.71 and last traded at $124.8450, with a volume of 88711 shares changing hands. The stock had previously closed at $123.00.

Invesco S&P 500 High Beta ETF Price Performance

The stock’s fifty day simple moving average is $120.29 and its 200-day simple moving average is $112.62. The stock has a market cap of $694.50 million, a P/E ratio of 20.84 and a beta of 1.47.

Institutional Trading of Invesco S&P 500 High Beta ETF

A number of large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Invesco S&P 500 High Beta ETF by 4,310.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 382,849 shares of the company’s stock valued at $44,422,000 after purchasing an additional 374,168 shares during the last quarter. Allianz SE acquired a new stake in shares of Invesco S&P 500 High Beta ETF in the second quarter valued at approximately $21,799,000. Axiom Financial Strategies LLC bought a new stake in shares of Invesco S&P 500 High Beta ETF during the third quarter valued at approximately $14,891,000. Bank Hapoalim BM acquired a new position in shares of Invesco S&P 500 High Beta ETF during the third quarter worth approximately $9,443,000. Finally, PFG Advisors boosted its position in shares of Invesco S&P 500 High Beta ETF by 835.6% during the third quarter. PFG Advisors now owns 93,125 shares of the company’s stock worth $10,225,000 after buying an additional 83,172 shares during the period.

About Invesco S&P 500 High Beta ETF

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.