Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Hits New 1-Year High – Still a Buy?

Shares of Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $142.88 and last traded at $142.63, with a volume of 300499 shares changing hands. The stock had previously closed at $140.00.

Invesco S&P 500 High Beta ETF Price Performance

The firm has a market cap of $854.88 million, a price-to-earnings ratio of 20.84 and a beta of 1.39. The firm’s fifty day moving average is $127.12 and its 200-day moving average is $121.65.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Several institutional investors have recently made changes to their positions in the stock. Stratos Wealth Advisors LLC raised its holdings in shares of Invesco S&P 500 High Beta ETF by 1.7% during the fourth quarter. Stratos Wealth Advisors LLC now owns 5,800 shares of the company’s stock valued at $678,000 after purchasing an additional 99 shares during the period. Advisors Preferred LLC raised its holdings in shares of Invesco S&P 500 High Beta ETF by 1.1% during the fourth quarter. Advisors Preferred LLC now owns 9,200 shares of the company’s stock valued at $1,095,000 after purchasing an additional 100 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of Invesco S&P 500 High Beta ETF by 43.9% during the first quarter. Cornerstone Planning Group LLC now owns 328 shares of the company’s stock valued at $38,000 after purchasing an additional 100 shares during the period. Cetera Investment Advisers raised its holdings in shares of Invesco S&P 500 High Beta ETF by 0.7% during the fourth quarter. Cetera Investment Advisers now owns 22,789 shares of the company’s stock valued at $2,666,000 after purchasing an additional 158 shares during the period. Finally, Avant Capital LLC raised its holdings in shares of Invesco S&P 500 High Beta ETF by 6.1% during the fourth quarter. Avant Capital LLC now owns 3,636 shares of the company’s stock valued at $425,000 after purchasing an additional 209 shares during the period.

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.