Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sees Large Volume Increase – Still a Buy?

Shares of Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) saw strong trading volume on Wednesday . 5,420,271 shares traded hands during mid-day trading, an increase of 209% from the previous session’s volume of 1,753,480 shares.The stock last traded at $50.86 and had previously closed at $51.21.

Invesco S&P 500 Top 50 ETF Trading Down 0.4 %

The firm’s 50 day moving average price is $50.50 and its two-hundred day moving average price is $48.09. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 2.92 and a beta of 1.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XLG. Global Retirement Partners LLC boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 13.9% during the 4th quarter. Global Retirement Partners LLC now owns 290,268 shares of the company’s stock worth $14,502,000 after buying an additional 35,469 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Invesco S&P 500 Top 50 ETF during the fourth quarter worth approximately $8,715,000. Atria Wealth Solutions Inc. grew its position in shares of Invesco S&P 500 Top 50 ETF by 30.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 94,070 shares of the company’s stock valued at $4,700,000 after purchasing an additional 21,962 shares during the last quarter. Fortis Group Advisors LLC increased its stake in shares of Invesco S&P 500 Top 50 ETF by 3.4% during the fourth quarter. Fortis Group Advisors LLC now owns 145,459 shares of the company’s stock worth $7,267,000 after purchasing an additional 4,796 shares during the period. Finally, Truist Financial Corp lifted its holdings in Invesco S&P 500 Top 50 ETF by 1.5% during the 4th quarter. Truist Financial Corp now owns 29,649 shares of the company’s stock worth $1,481,000 after purchasing an additional 426 shares during the last quarter.

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.