Invesco CurrencyShares Japanese Yen Trust (NYSEARCA:FXY) Shares Pass Above 50 Day Moving Average – Here’s Why

Invesco CurrencyShares Japanese Yen Trust (NYSEARCA:FXY) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $58.94 and traded as high as $59.59. Invesco CurrencyShares Japanese Yen Trust shares last traded at $59.41, with a volume of 102,653 shares traded.

Invesco CurrencyShares Japanese Yen Trust Stock Performance

The firm’s 50 day moving average is $58.94 and its 200-day moving average is $60.19. The stock has a market capitalization of $493.10 million, a price-to-earnings ratio of -117.92 and a beta of 0.19.

Institutional Investors Weigh In On Invesco CurrencyShares Japanese Yen Trust

Several hedge funds have recently modified their holdings of FXY. Comerica Bank purchased a new position in shares of Invesco CurrencyShares Japanese Yen Trust in the 1st quarter valued at about $96,000. Goldman Sachs Group Inc. boosted its position in Invesco CurrencyShares Japanese Yen Trust by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 66,847 shares of the exchange traded fund’s stock worth $4,111,000 after purchasing an additional 16,847 shares in the last quarter. Haven Private LLC acquired a new stake in Invesco CurrencyShares Japanese Yen Trust in the second quarter valued at approximately $926,000. Strategic Financial Concepts LLC purchased a new stake in shares of Invesco CurrencyShares Japanese Yen Trust in the second quarter valued at approximately $1,460,000. Finally, Pekin Hardy Strauss Inc. raised its stake in shares of Invesco CurrencyShares Japanese Yen Trust by 95.5% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 61,874 shares of the exchange traded fund’s stock worth $3,956,000 after buying an additional 30,230 shares during the period.

About Invesco CurrencyShares Japanese Yen Trust

Guggenheim CurrencyShares Japanese Yen Trust, formerly CurrencyShares Japanese Yen Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of Japanese Yen and distributes Japanese Yen in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of Japanese Yen plus accrued interest, if any, less the expenses of the Trust’s operations. The Trust holds Japanese Yen and, from time to time, issues Baskets in exchange for deposits of Japanese Yen and distributes Japanese Yen in connection with redemptions of Baskets.