Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Reaches New 1-Year High – Should You Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $124.48 and last traded at $123.6010, with a volume of 90913 shares trading hands. The stock had previously closed at $122.82.

Invesco S&P 500 High Beta ETF Stock Performance

The company’s 50 day simple moving average is $117.03 and its 200-day simple moving average is $110.66. The firm has a market capitalization of $685.43 million, a PE ratio of 20.84 and a beta of 1.47.

Institutional Investors Weigh In On Invesco S&P 500 High Beta ETF

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in Invesco S&P 500 High Beta ETF by 86.4% during the second quarter. Osaic Holdings Inc. now owns 24,612 shares of the company’s stock valued at $2,373,000 after purchasing an additional 11,411 shares during the last quarter. Allianz SE purchased a new stake in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter valued at $21,799,000. AE Wealth Management LLC raised its position in shares of Invesco S&P 500 High Beta ETF by 4,342.4% during the 2nd quarter. AE Wealth Management LLC now owns 7,863 shares of the company’s stock valued at $767,000 after buying an additional 7,686 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter worth $1,003,000. Finally, Bank Hapoalim BM purchased a new position in Invesco S&P 500 High Beta ETF in the third quarter worth $9,443,000.

About Invesco S&P 500 High Beta ETF

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.