Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sets New 52-Week High – Should You Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.15 and last traded at $51.15, with a volume of 1248 shares traded. The stock had previously closed at $50.79.

Invesco S&P 500 Top 50 ETF Stock Performance

The company has a 50-day moving average of $48.90 and a 200 day moving average of $46.82. The firm has a market cap of $5.01 billion, a P/E ratio of 2.92 and a beta of 1.08.

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

A number of hedge funds have recently made changes to their positions in XLG. World Investment Advisors LLC grew its position in Invesco S&P 500 Top 50 ETF by 61.6% during the 3rd quarter. World Investment Advisors LLC now owns 173,221 shares of the company’s stock worth $8,233,000 after acquiring an additional 66,037 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Invesco S&P 500 Top 50 ETF by 131.5% during the third quarter. Arete Wealth Advisors LLC now owns 39,048 shares of the company’s stock worth $1,845,000 after purchasing an additional 22,182 shares during the last quarter. Asset Allocation Strategies LLC increased its stake in shares of Invesco S&P 500 Top 50 ETF by 24.3% in the third quarter. Asset Allocation Strategies LLC now owns 232,391 shares of the company’s stock valued at $11,046,000 after buying an additional 45,463 shares in the last quarter. Cresta Advisors Ltd. increased its stake in shares of Invesco S&P 500 Top 50 ETF by 5.1% in the third quarter. Cresta Advisors Ltd. now owns 62,559 shares of the company’s stock valued at $2,973,000 after buying an additional 3,033 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of Invesco S&P 500 Top 50 ETF by 29.6% in the third quarter. MML Investors Services LLC now owns 601,157 shares of the company’s stock valued at $28,573,000 after buying an additional 137,194 shares during the last quarter.

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.