Invesco Solar ETF (NYSEARCA:TAN) Hits New 52-Week Low – Time to Sell?

Invesco Solar ETF (NYSEARCA:TAN)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $33.36 and last traded at $33.62, with a volume of 795229 shares. The stock had previously closed at $34.63.

Invesco Solar ETF Trading Down 3.2 %

The company has a market capitalization of $807.74 million, a price-to-earnings ratio of 9.19 and a beta of 1.81. The stock’s 50 day moving average price is $36.84 and its 200 day moving average price is $40.14.

Hedge Funds Weigh In On Invesco Solar ETF

Several hedge funds and other institutional investors have recently made changes to their positions in TAN. Clal Insurance Enterprises Holdings Ltd raised its stake in Invesco Solar ETF by 205.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,600,000 shares of the exchange traded fund’s stock valued at $112,086,000 after buying an additional 1,750,000 shares during the period. National Bank of Canada FI lifted its position in shares of Invesco Solar ETF by 203.3% during the 3rd quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock valued at $19,305,000 after acquiring an additional 300,149 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Invesco Solar ETF by 698.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 123,936 shares of the exchange traded fund’s stock worth $4,983,000 after buying an additional 108,411 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Invesco Solar ETF during the 3rd quarter worth approximately $1,033,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Invesco Solar ETF in the 3rd quarter valued at $969,000.

Invesco Solar ETF Company Profile

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).