Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Hits New 12-Month High – Here’s Why

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $92.04 and last traded at $92.02, with a volume of 83824 shares. The stock had previously closed at $90.90.

Invesco S&P 500 High Beta ETF Trading Up 0.1 %

The business has a 50-day simple moving average of $87.81 and a 200 day simple moving average of $85.48. The stock has a market cap of $654.27 million, a P/E ratio of 22.23 and a beta of 1.48.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Hanlon Investment Management Inc. raised its position in shares of Invesco S&P 500 High Beta ETF by 11.8% during the 2nd quarter. Hanlon Investment Management Inc. now owns 4,876 shares of the company’s stock valued at $412,000 after buying an additional 514 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Invesco S&P 500 High Beta ETF during the second quarter valued at about $74,000. Cetera Investment Advisers lifted its stake in Invesco S&P 500 High Beta ETF by 10.7% during the second quarter. Cetera Investment Advisers now owns 12,349 shares of the company’s stock worth $1,043,000 after purchasing an additional 1,193 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Invesco S&P 500 High Beta ETF by 4.3% in the 2nd quarter. Aveo Capital Partners LLC now owns 45,240 shares of the company’s stock worth $3,821,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Invesco S&P 500 High Beta ETF by 27.8% during the 2nd quarter. Bank of Montreal Can now owns 8,732 shares of the company’s stock valued at $742,000 after purchasing an additional 1,902 shares during the last quarter.

About Invesco S&P 500 High Beta ETF

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.