Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sees Strong Trading Volume – Time to Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) shares saw unusually-high trading volume on Thursday . Approximately 167,949 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 255,536 shares.The stock last traded at $94.21 and had previously closed at $94.81.

Invesco S&P 500 High Beta ETF Price Performance

The company has a 50 day moving average price of $91.85 and a 200 day moving average price of $88.47. The firm has a market cap of $670.95 million, a PE ratio of 22.23 and a beta of 1.48.

Institutional Trading of Invesco S&P 500 High Beta ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Q3 Asset Management acquired a new stake in Invesco S&P 500 High Beta ETF in the fourth quarter valued at about $11,242,000. Millennium Management LLC purchased a new position in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter worth approximately $3,965,000. Bank of Montreal Can lifted its holdings in shares of Invesco S&P 500 High Beta ETF by 448.6% in the 3rd quarter. Bank of Montreal Can now owns 47,903 shares of the company’s stock valued at $4,291,000 after buying an additional 39,171 shares during the period. Seros Financial LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the fourth quarter valued at approximately $870,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the second quarter valued at approximately $682,000.

Invesco S&P 500 High Beta ETF Company Profile

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.