Invesco Semiconductors ETF (NYSEARCA:PSI) Sets New 52-Week High – Here’s Why

Invesco Semiconductors ETF (NYSEARCA:PSI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $159.83 and last traded at $159.09, with a volume of 55578 shares. The stock had previously closed at $153.75.

Invesco Semiconductors ETF Stock Performance

The business’s 50 day moving average is $122.92 and its 200 day moving average is $99.88. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 29.05 and a beta of 1.78.

Hedge Funds Weigh In On Invesco Semiconductors ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSI. HighTower Advisors LLC boosted its stake in Invesco Semiconductors ETF by 205.5% in the 4th quarter. HighTower Advisors LLC now owns 543,240 shares of the company’s stock worth $42,840,000 after purchasing an additional 365,438 shares during the period. Warner Group LLC acquired a new position in Invesco Semiconductors ETF in the 3rd quarter worth approximately $13,566,000. Ameriprise Financial Inc. boosted its stake in Invesco Semiconductors ETF by 833.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 151,834 shares of the company’s stock worth $9,129,000 after purchasing an additional 135,576 shares during the period. Trek Financial LLC acquired a new position in Invesco Semiconductors ETF in the 4th quarter worth approximately $5,457,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Invesco Semiconductors ETF by 199.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 101,326 shares of the company’s stock valued at $7,859,000 after buying an additional 67,534 shares during the period.

Invesco Semiconductors ETF Company Profile

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.