Invesco CEF Income Composite ETF (NYSEARCA:PCEF) Sees Unusually-High Trading Volume – Still a Buy?

Invesco CEF Income Composite ETF (NYSEARCA:PCEF) shares saw an uptick in trading volume on Thursday . Approximately 763,070 shares traded hands during trading, an increase of 449% from the previous session’s volume of 139,089 shares.The stock last traded at $20.27 and had previously closed at $20.39.

Invesco CEF Income Composite ETF Stock Performance

The stock’s fifty day simple moving average is $20.13 and its two-hundred day simple moving average is $19.88. The company has a market cap of $822.94 million, a price-to-earnings ratio of 23.11 and a beta of 0.75.

Hedge Funds Weigh In On Invesco CEF Income Composite ETF

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Invesco CEF Income Composite ETF by 2.7% during the first quarter. NewEdge Advisors LLC now owns 37,621 shares of the company’s stock valued at $709,000 after purchasing an additional 983 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Invesco CEF Income Composite ETF by 13.6% in the 2nd quarter. Raymond James Financial Inc. now owns 1,152,972 shares of the company’s stock worth $22,529,000 after buying an additional 137,590 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Invesco CEF Income Composite ETF by 0.8% in the 2nd quarter. Bank of America Corp DE now owns 941,215 shares of the company’s stock valued at $18,391,000 after buying an additional 7,534 shares during the period. WFA of San Diego LLC acquired a new position in shares of Invesco CEF Income Composite ETF in the 2nd quarter valued at about $45,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Invesco CEF Income Composite ETF by 20.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 48,941 shares of the company’s stock valued at $956,000 after buying an additional 8,245 shares during the last quarter.

About Invesco CEF Income Composite ETF

PowerShares CEF Income Composite Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of the S-Network Composite Closed-End Fund Index (the Index). The Fund will normally invest at least 80% of its total assets in securities of funds included in the Index. The Index tracks the overall performance of a global universe of United States listed closed-end funds that are organized under the laws of the United States selected by S-Network Global Indexes LLC (the Index Provider).