Stock Traders Purchase High Volume of Invesco Solar ETF Call Options (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) was the target of unusually large options trading on Wednesday. Stock investors purchased 6,135 call options on the company. This is an increase of 171% compared to the average daily volume of 2,262 call options.

Invesco Solar ETF Price Performance

Shares of NYSEARCA TAN traded down $0.90 during midday trading on Wednesday, hitting $50.95. The stock had a trading volume of 203,935 shares, compared to its average volume of 872,237. The firm has a market cap of $978.75 million, a P/E ratio of 18.04 and a beta of 1.37. Invesco Solar ETF has a fifty-two week low of $25.53 and a fifty-two week high of $53.68. The company’s 50-day simple moving average is $45.84 and its 200 day simple moving average is $39.24.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. boosted its position in Invesco Solar ETF by 719.1% during the third quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock worth $38,729,000 after purchasing an additional 779,301 shares during the period. NewEdge Wealth LLC acquired a new position in Invesco Solar ETF in the 3rd quarter valued at about $177,000. PNC Financial Services Group Inc. raised its holdings in Invesco Solar ETF by 4.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,032 shares of the exchange traded fund’s stock valued at $2,401,000 after acquiring an additional 2,101 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Invesco Solar ETF during the third quarter worth approximately $272,000. Finally, Ledyard National Bank bought a new stake in shares of Invesco Solar ETF during the third quarter worth approximately $200,000.

Invesco Solar ETF Company Profile

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).