Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) Sees Strong Trading Volume – Here’s Why

Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) shares saw strong trading volume on Wednesday . 1,989,470 shares traded hands during mid-day trading, an increase of 48% from the previous session’s volume of 1,341,356 shares.The stock last traded at $109.85 and had previously closed at $108.05.

Invesco PHLX Semiconductor ETF Price Performance

The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 34.20 and a beta of 1.74. The business’s fifty day simple moving average is $79.30 and its 200 day simple moving average is $66.49.

Invesco PHLX Semiconductor ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.0706 per share. This is an increase from Invesco PHLX Semiconductor ETF’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, March 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new position in Invesco PHLX Semiconductor ETF during the first quarter worth about $39,000. Qube Research & Technologies Ltd purchased a new position in Invesco PHLX Semiconductor ETF during the third quarter worth about $35,000. Western Wealth Management LLC purchased a new position in Invesco PHLX Semiconductor ETF during the first quarter worth about $44,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco PHLX Semiconductor ETF by 112.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 954 shares of the company’s stock worth $42,000 after purchasing an additional 505 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Invesco PHLX Semiconductor ETF by 118.7% during the fourth quarter. Royal Bank of Canada now owns 1,286 shares of the company’s stock worth $72,000 after purchasing an additional 698 shares during the last quarter.

Invesco PHLX Semiconductor ETF Company Profile

The Invesco PHLX Semiconductor ETF (SOXQ) is an exchange-traded fund that is based on the PHLX / Semiconductor index, a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXQ was launched on Jun 11, 2021 and is managed by Invesco.