Invesco Solar ETF (NYSEARCA:TAN) Sees Large Volume Increase – Time to Buy?

Shares of Invesco Solar ETF (NYSEARCA:TAN) saw unusually-strong trading volume on Friday . Approximately 1,511,384 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 1,426,017 shares.The stock last traded at $62.99 and had previously closed at $62.30.

Invesco Solar ETF Trading Up 1.2%

The company has a 50-day simple moving average of $61.22 and a 200 day simple moving average of $56.03. The company has a market cap of $1.74 billion, a P/E ratio of 18.04 and a beta of 1.36.

Hedge Funds Weigh In On Invesco Solar ETF

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Invesco Solar ETF by 95,252.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,423,380 shares of the exchange traded fund’s stock worth $217,276,000 after buying an additional 4,418,741 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Invesco Solar ETF in the 1st quarter worth $99,186,000. Citigroup Inc. lifted its holdings in shares of Invesco Solar ETF by 719.1% in the 3rd quarter. Citigroup Inc. now owns 887,670 shares of the exchange traded fund’s stock worth $38,729,000 after buying an additional 779,301 shares during the period. Wealth High Governance Capital Ltda purchased a new stake in shares of Invesco Solar ETF in the 4th quarter worth $17,986,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Invesco Solar ETF by 513.4% in the 4th quarter. JPMorgan Chase & Co. now owns 359,238 shares of the exchange traded fund’s stock worth $17,646,000 after buying an additional 300,669 shares during the period.

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). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.