Invesco Solar ETF (NYSEARCA:TAN) Hits New 12-Month Low – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.76 and last traded at $30.24, with a volume of 96378 shares traded. The stock had previously closed at $31.01.

Invesco Solar ETF Stock Performance

The stock’s 50 day moving average price is $33.11 and its 200 day moving average price is $35.65. The company has a market capitalization of $732.12 million, a P/E ratio of 16.82 and a beta of 1.42.

Institutional Trading of Invesco Solar ETF

Institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in Invesco Solar ETF in the third quarter valued at approximately $969,000. National Bank of Canada FI increased its stake in shares of Invesco Solar ETF by 203.3% in the 3rd quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock valued at $19,305,000 after acquiring an additional 300,149 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Invesco Solar ETF during the 3rd quarter valued at $1,033,000. JPMorgan Chase & Co. boosted its stake in Invesco Solar ETF by 52.5% during the third quarter. JPMorgan Chase & Co. now owns 23,282 shares of the exchange traded fund’s stock worth $1,004,000 after acquiring an additional 8,011 shares in the last quarter. Finally, Cox Capital Mgt LLC acquired a new stake in Invesco Solar ETF in the fourth quarter worth $729,000.

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).