Invesco Solar ETF (NYSEARCA:TAN) Shares Gap Up – Here’s Why

Shares of Invesco Solar ETF (NYSEARCA:TAN) gapped up before the market opened on Wednesday . The stock had previously closed at $32.65, but opened at $33.91. Invesco Solar ETF shares last traded at $34.10, with a volume of 334,689 shares changing hands.

Invesco Solar ETF Stock Up 1.7 %

The company has a market capitalization of $823.40 million, a price-to-earnings ratio of 9.19 and a beta of 1.81. The company has a 50 day simple moving average of $34.70 and a 200 day simple moving average of $38.06.

Institutional Trading of Invesco Solar ETF

Several large investors have recently added to or reduced their stakes in TAN. Envestnet Asset Management Inc. increased its stake in Invesco Solar ETF by 13.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 77,298 shares of the exchange traded fund’s stock worth $3,108,000 after buying an additional 9,397 shares during the period. Cetera Investment Advisers raised its position in shares of Invesco Solar ETF by 10.4% in the 2nd quarter. Cetera Investment Advisers now owns 55,678 shares of the exchange traded fund’s stock valued at $2,239,000 after purchasing an additional 5,255 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Invesco Solar ETF in the second quarter worth $713,000. CWM LLC raised its holdings in Invesco Solar ETF by 35.1% in the third quarter. CWM LLC now owns 11,106 shares of the exchange traded fund’s stock valued at $479,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Invesco Solar ETF by 8.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,222 shares of the exchange traded fund’s stock valued at $742,000 after acquiring an additional 1,334 shares during the last quarter.

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).