Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sees Strong Trading Volume – Still a Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) saw unusually-strong trading volume on Monday . Approximately 433,865 shares traded hands during trading, an increase of 73% from the previous session’s volume of 250,389 shares.The stock last traded at $90.35 and had previously closed at $91.31.

Invesco S&P 500 High Beta ETF Stock Down 1.6 %

The company has a market capitalization of $638.15 million, a PE ratio of 22.23 and a beta of 1.48. The stock has a 50-day moving average of $91.92 and a 200 day moving average of $88.59.

Institutional Trading of Invesco S&P 500 High Beta ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Q3 Asset Management purchased a new stake in Invesco S&P 500 High Beta ETF in the fourth quarter worth $11,242,000. Bank of Montreal Can increased its position in Invesco S&P 500 High Beta ETF by 448.6% in the third quarter. Bank of Montreal Can now owns 47,903 shares of the company’s stock worth $4,291,000 after buying an additional 39,171 shares during the last quarter. Millennium Management LLC purchased a new stake in Invesco S&P 500 High Beta ETF in the second quarter worth $3,965,000. Capital Investment Advisory Services LLC increased its position in Invesco S&P 500 High Beta ETF by 5.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 31,102 shares of the company’s stock worth $2,757,000 after buying an additional 1,640 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Invesco S&P 500 High Beta ETF by 10.7% in the second quarter. Cetera Investment Advisers now owns 12,349 shares of the company’s stock worth $1,043,000 after acquiring an additional 1,193 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.