Invesco Solar ETF (NYSEARCA:TAN) Shares Gap Down – Should You Sell?

Invesco Solar ETF (NYSEARCA:TAN)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $41.79, but opened at $37.51. Invesco Solar ETF shares last traded at $36.67, with a volume of 1,310,901 shares traded.

Invesco Solar ETF Trading Down 10.9 %

The company has a market capitalization of $897.35 million, a P/E ratio of 9.19 and a beta of 1.81. The business has a 50 day moving average price of $39.99 and a 200 day moving average price of $41.76.

Hedge Funds Weigh In On Invesco Solar ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its stake in Invesco Solar ETF by 20.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,084 shares of the exchange traded fund’s stock worth $478,000 after buying an additional 1,868 shares during the period. Bank Hapoalim BM acquired a new stake in shares of Invesco Solar ETF during the third quarter worth about $255,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Invesco Solar ETF by 248.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,743 shares of the exchange traded fund’s stock valued at $765,000 after purchasing an additional 12,648 shares during the period. PFG Investments LLC grew its position in shares of Invesco Solar ETF by 9.4% in the 3rd quarter. PFG Investments LLC now owns 75,917 shares of the exchange traded fund’s stock valued at $3,273,000 after purchasing an additional 6,520 shares during the period. Finally, Private Advisor Group LLC increased its stake in Invesco Solar ETF by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 15,329 shares of the exchange traded fund’s stock worth $661,000 after purchasing an additional 333 shares in the last quarter.

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).