Invesco Semiconductors ETF (NYSEARCA:PSI) Reaches New 1-Year High – Time to Buy?

Invesco Semiconductors ETF (NYSEARCA:PSI) shares hit a new 52-week high on Friday . The company traded as high as $166.77 and last traded at $166.46, with a volume of 137995 shares trading hands. The stock had previously closed at $163.00.

Invesco Semiconductors ETF Stock Performance

The company has a market cap of $2.50 billion, a price-to-earnings ratio of 29.05 and a beta of 1.80. The stock’s fifty day simple moving average is $137.62 and its two-hundred day simple moving average is $106.66.

Hedge Funds Weigh In On Invesco Semiconductors ETF

Several hedge funds and other institutional investors have recently made changes to their positions in PSI. HighTower Advisors LLC lifted its holdings in shares of Invesco Semiconductors ETF by 205.5% during the 4th quarter. HighTower Advisors LLC now owns 543,240 shares of the company’s stock valued at $42,840,000 after acquiring an additional 365,438 shares in the last quarter. Warner Group LLC acquired a new position in shares of Invesco Semiconductors ETF during the 3rd quarter valued at $13,566,000. Ameriprise Financial Inc. lifted its holdings in shares of Invesco Semiconductors ETF by 833.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 151,834 shares of the company’s stock valued at $9,129,000 after acquiring an additional 135,576 shares in the last quarter. Trek Financial LLC acquired a new position in shares of Invesco Semiconductors ETF during the 4th quarter valued at $5,457,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Invesco Semiconductors ETF by 199.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 101,326 shares of the company’s stock valued at $7,859,000 after acquiring an additional 67,534 shares in the last quarter.

About Invesco Semiconductors ETF

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.