Invesco Solar ETF (NYSEARCA:TAN) Hits New 1-Year Low – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week low during trading on Thursday. The company traded as low as $42.10 and last traded at $41.7060, with a volume of 2,604 shares trading hands. The stock had previously closed at $42.64.

Invesco Solar ETF Price Performance

The firm has a fifty day moving average price of $47.14 and a 200-day moving average price of $54.48. The company has a market capitalization of $855.87 million, a P/E ratio of 18.04 and a beta of 1.41.

Institutional Investors Weigh In On Invesco Solar ETF

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in Invesco Solar ETF by 92.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,143 shares of the exchange traded fund’s stock valued at $182,000 after buying an additional 1,989 shares in the last quarter. Ayalon Insurance Comp Ltd. boosted its stake in Invesco Solar ETF by 338.4% during the third quarter. Ayalon Insurance Comp Ltd. now owns 172,300 shares of the exchange traded fund’s stock valued at $7,576,000 after buying an additional 133,000 shares during the period. Envestnet Asset Management Inc. increased its stake in Invesco Solar ETF by 5.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,323 shares of the exchange traded fund’s stock worth $1,853,000 after acquiring an additional 1,538 shares during the last quarter. IPG Investment Advisors LLC bought a new stake in shares of Invesco Solar ETF during the 2nd quarter valued at about $202,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Invesco Solar ETF by 5.0% in the second quarter. Integrated Wealth Concepts LLC now owns 7,090 shares of the exchange traded fund’s stock worth $419,000 after purchasing an additional 339 shares during the last quarter.

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). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.