Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 1-Year High – What’s Next?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.80 and last traded at $51.67, with a volume of 2508 shares trading hands. The stock had previously closed at $51.61.

Invesco S&P 500 Top 50 ETF Price Performance

The company has a market capitalization of $5.02 billion, a P/E ratio of 2.92 and a beta of 1.08. The stock’s 50 day moving average is $50.77 and its 200-day moving average is $48.65.

Hedge Funds Weigh In On Invesco S&P 500 Top 50 ETF

A number of institutional investors have recently bought and sold shares of XLG. Raymond James & Associates raised its stake in Invesco S&P 500 Top 50 ETF by 69.7% in the third quarter. Raymond James & Associates now owns 816,880 shares of the company’s stock worth $38,826,000 after buying an additional 335,532 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Invesco S&P 500 Top 50 ETF by 127.6% during the third quarter. Foundations Investment Advisors LLC now owns 22,758 shares of the company’s stock valued at $1,082,000 after purchasing an additional 12,758 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Invesco S&P 500 Top 50 ETF by 3.0% during the third quarter. Sequoia Financial Advisors LLC now owns 25,796 shares of the company’s stock valued at $1,226,000 after purchasing an additional 745 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Invesco S&P 500 Top 50 ETF by 13.5% during the third quarter. Private Advisor Group LLC now owns 699,786 shares of the company’s stock valued at $33,261,000 after purchasing an additional 83,309 shares in the last quarter. Finally, Greystone Financial Group LLC bought a new position in shares of Invesco S&P 500 Top 50 ETF during the third quarter valued at approximately $1,802,000.

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.