Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Reaches New 1-Year High – Still a Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) hit a new 52-week high on Monday . The company traded as high as $94.80 and last traded at $94.80, with a volume of 215508 shares trading hands. The stock had previously closed at $93.09.

Invesco S&P 500 High Beta ETF Stock Performance

The company’s 50 day simple moving average is $90.04 and its 200 day simple moving average is $86.40. The stock has a market cap of $673.65 million, a price-to-earnings ratio of 22.23 and a beta of 1.48.

Institutional Investors Weigh In On Invesco S&P 500 High Beta ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SPHB. Jane Street Group LLC lifted its stake in Invesco S&P 500 High Beta ETF by 33.4% in the 1st quarter. Jane Street Group LLC now owns 106,251 shares of the company’s stock worth $9,322,000 after acquiring an additional 26,614 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new stake in Invesco S&P 500 High Beta ETF in the 2nd quarter worth about $1,091,000. International Assets Investment Management LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter worth about $74,000. Commonwealth Equity Services LLC raised its stake in shares of Invesco S&P 500 High Beta ETF by 60.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,383 shares of the company’s stock worth $1,384,000 after purchasing an additional 6,174 shares in the last quarter. Finally, Aveo Capital Partners LLC raised its stake in shares of Invesco S&P 500 High Beta ETF by 4.3% during 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.

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.