Invesco Solar ETF (NYSEARCA:TAN) Sets New 1-Year Low – Should You Sell?

Invesco Solar ETF (NYSEARCA:TAN) hit a new 52-week low on Wednesday . The company traded as low as $33.36 and last traded at $33.62, with a volume of 795229 shares traded. The stock had previously closed at $34.63.

Invesco Solar ETF Trading Down 3.2 %

The firm’s fifty day moving average price is $36.84 and its 200-day moving average price is $40.14. The company has a market cap of $807.74 million, a price-to-earnings ratio of 9.19 and a beta of 1.81.

Hedge Funds Weigh In On Invesco Solar ETF

Several institutional investors and hedge funds have recently modified their holdings of TAN. Private Advisor Group LLC lifted its holdings in shares of Invesco Solar ETF by 2.2% in the third quarter. Private Advisor Group LLC now owns 15,329 shares of the exchange traded fund’s stock valued at $661,000 after purchasing an additional 333 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Invesco Solar ETF by 8.6% in the 2nd quarter. Wedbush Securities Inc. now owns 9,322 shares of the exchange traded fund’s stock valued at $375,000 after acquiring an additional 739 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Invesco Solar ETF by 8.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,222 shares of the exchange traded fund’s stock valued at $742,000 after acquiring an additional 1,334 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position 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 acquiring an additional 1,868 shares during the last quarter. Finally, PFG Investments LLC grew its stake in shares of Invesco Solar ETF by 3.6% during the 2nd quarter. PFG Investments LLC now owns 69,397 shares of the exchange traded fund’s stock worth $2,790,000 after acquiring an additional 2,430 shares in the last quarter.

Invesco Solar ETF Company Profile

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).