Invesco Solar ETF (NYSEARCA:TAN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Invesco Solar ETF (NYSEARCA:TAN) saw strong trading volume on Friday . 1,511,384 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 1,426,017 shares.The stock last traded at $62.99 and had previously closed at $62.30.

Invesco Solar ETF Stock Up 1.9%

The company has a market cap of $1.75 billion, a P/E ratio of 18.04 and a beta of 1.36. The business’s 50 day moving average is $61.08 and its 200 day moving average is $55.98.

Hedge Funds Weigh In On Invesco Solar ETF

Large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC bought a new position in Invesco Solar ETF in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. grew its holdings in Invesco Solar ETF by 62.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 553 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 212 shares during the last quarter. Parallel Advisors LLC purchased a new position in Invesco Solar ETF in the fourth quarter worth $28,000. Assetmark Inc. purchased a new position in Invesco Solar ETF in the fourth quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Invesco Solar ETF in the fourth quarter worth $35,000.

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). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.