Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sees Strong Trading Volume – Time to Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) shares saw unusually-high trading volume on Thursday . Approximately 167,949 shares traded hands during mid-day trading, a decline of 34% from the previous session’s volume of 255,536 shares.The stock last traded at $94.21 and had previously closed at $94.81.

Invesco S&P 500 High Beta ETF Stock Performance

The firm has a 50 day simple moving average of $91.62 and a two-hundred day simple moving average of $88.36. The stock has a market cap of $674.30 million, a P/E ratio of 22.23 and a beta of 1.48.

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

A number of institutional investors and hedge funds have recently bought and sold shares of SPHB. Bank of Montreal Can increased its holdings in shares of Invesco S&P 500 High Beta ETF by 27.8% in 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 period. Millennium Management LLC purchased a new position in Invesco S&P 500 High Beta ETF during the second quarter valued at approximately $3,965,000. Chicago Wealth Management Inc. increased its stake in Invesco S&P 500 High Beta ETF by 131.6% in the 2nd quarter. Chicago Wealth Management Inc. now owns 6,435 shares of the company’s stock valued at $543,000 after buying an additional 3,656 shares during the period. Cetera Investment Advisers lifted its position in Invesco S&P 500 High Beta ETF by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 12,349 shares of the company’s stock worth $1,043,000 after buying an additional 1,193 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter valued at $682,000.

Invesco S&P 500 High Beta ETF Company Profile

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.