Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Reaches New 52-Week High – Time to Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $51.64 and last traded at $51.64, with a volume of 2497 shares trading hands. The stock had previously closed at $51.15.

Invesco S&P 500 Top 50 ETF Stock Performance

The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 2.92 and a beta of 1.08. The business’s 50 day moving average is $49.05 and its 200-day moving average is $46.95.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Large investors have recently bought and sold shares of the company. LPL Financial LLC grew its stake in Invesco S&P 500 Top 50 ETF by 10.2% during the 3rd quarter. LPL Financial LLC now owns 7,979,467 shares of the company’s stock valued at $379,264,000 after acquiring an additional 741,770 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Invesco S&P 500 Top 50 ETF by 20.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,305,381 shares of the company’s stock valued at $59,721,000 after buying an additional 223,301 shares during the period. HighTower Advisors LLC grew its position in Invesco S&P 500 Top 50 ETF by 27.7% in the 3rd quarter. HighTower Advisors LLC now owns 925,321 shares of the company’s stock valued at $43,982,000 after acquiring an additional 200,879 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Invesco S&P 500 Top 50 ETF by 20.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 875,278 shares of the company’s stock valued at $40,044,000 after buying an additional 151,025 shares during the period. Finally, Raymond James & Associates increased its position in shares of Invesco S&P 500 Top 50 ETF by 69.7% during the third quarter. Raymond James & Associates now owns 816,880 shares of the company’s stock worth $38,826,000 after acquiring an additional 335,532 shares during the period.

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.