Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Hits New 52-Week High – Still a Buy?

Shares of Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $106.79 and last traded at $109.29, with a volume of 1004 shares changing hands. The stock had previously closed at $106.40.

Invesco AI and Next Gen Software ETF Stock Up 2.2%

The company has a 50 day simple moving average of $87.16 and a 200 day simple moving average of $70.46. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.76 and a beta of 1.42.

Institutional Investors Weigh In On Invesco AI and Next Gen Software ETF

Several large investors have recently made changes to their positions in IGPT. Opus Capital Group LLC acquired a new stake in shares of Invesco AI and Next Gen Software ETF in the fourth quarter valued at about $1,354,000. Redstone Wealth Management LLC acquired a new position in Invesco AI and Next Gen Software ETF during the 4th quarter worth approximately $425,000. Journey Strategic Wealth LLC boosted its holdings in Invesco AI and Next Gen Software ETF by 7.8% in the 3rd quarter. Journey Strategic Wealth LLC now owns 303,057 shares of the company’s stock worth $16,374,000 after acquiring an additional 21,899 shares during the period. Integrity Alliance LLC. purchased a new position in Invesco AI and Next Gen Software ETF in the 4th quarter worth approximately $1,859,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco AI and Next Gen Software ETF by 788.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 104,566 shares of the company’s stock worth $6,219,000 after acquiring an additional 92,790 shares during the period.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.