Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Hits New 1-Year High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) hit a new 52-week high on Thursday . The stock traded as high as $48.56 and last traded at $48.40, with a volume of 120225 shares traded. The stock had previously closed at $48.10.

Invesco S&P 500 Top 50 ETF Stock Performance

The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 2.92 and a beta of 1.08. The firm has a 50-day moving average price of $46.45 and a two-hundred day moving average price of $44.75.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC raised its position in shares of Invesco S&P 500 Top 50 ETF by 6.6% during the 2nd quarter. LPL Financial LLC now owns 7,237,697 shares of the company’s stock worth $331,125,000 after acquiring an additional 448,925 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Invesco S&P 500 Top 50 ETF by 20.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,305,381 shares of the company’s stock worth $59,721,000 after acquiring an additional 223,301 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Invesco S&P 500 Top 50 ETF by 5,426.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 934,951 shares of the company’s stock worth $35,266,000 after buying an additional 918,032 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in Invesco S&P 500 Top 50 ETF by 7.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 927,894 shares of the company’s stock worth $42,451,000 after buying an additional 60,665 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Invesco S&P 500 Top 50 ETF by 20.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 875,278 shares of the company’s stock worth $40,044,000 after buying an additional 151,025 shares during the last quarter.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index.