Invesco Solar ETF (NYSEARCA:TAN) Sees Strong Trading Volume – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN) saw unusually-high trading volume on Tuesday . Approximately 1,060,828 shares were traded during mid-day trading, an increase of 8% from the previous session’s volume of 980,528 shares.The stock last traded at $36.76 and had previously closed at $35.55.

Invesco Solar ETF Trading Up 3.5 %

The stock has a market cap of $886.27 million, a PE ratio of 9.19 and a beta of 1.81. The firm’s 50-day moving average price is $35.69 and its two-hundred day moving average price is $38.90.

Institutional Investors Weigh In On Invesco Solar ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd grew its position in Invesco Solar ETF by 205.9% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,600,000 shares of the exchange traded fund’s stock valued at $112,086,000 after buying an additional 1,750,000 shares during the period. National Bank of Canada FI increased its stake in shares of Invesco Solar ETF by 203.3% in the 3rd quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock valued at $19,305,000 after purchasing an additional 300,149 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Invesco Solar ETF by 698.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 123,936 shares of the exchange traded fund’s stock worth $4,983,000 after purchasing an additional 108,411 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Invesco Solar ETF during the third quarter worth approximately $1,033,000. Finally, Quadrature Capital Ltd acquired a new stake in Invesco Solar ETF in the third quarter valued at approximately $969,000.

About Invesco Solar ETF

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).