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

Shares of Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) hit a new 52-week high during trading on Wednesday . The stock traded as high as $96.15 and last traded at $94.97, with a volume of 237960 shares. The stock had previously closed at $95.13.

Invesco S&P 500 High Beta ETF Trading Down 3.4 %

The company’s fifty day moving average is $91.52 and its two-hundred day moving average is $89.25. The stock has a market cap of $645.39 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

A number of hedge funds have recently added to or reduced their stakes in SPHB. Mpwm Advisory Solutions LLC acquired a new position in shares of Invesco S&P 500 High Beta ETF during the fourth quarter worth $81,000. EHP Funds Inc. acquired a new position in shares of Invesco S&P 500 High Beta ETF in the 4th quarter valued at $8,697,000. Bank of America Corp DE raised its position in Invesco S&P 500 High Beta ETF by 15.8% in the 4th quarter. Bank of America Corp DE now owns 103,857 shares of the company’s stock valued at $9,207,000 after purchasing an additional 14,155 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Invesco S&P 500 High Beta ETF by 50.4% during the 4th quarter. BNP Paribas Financial Markets now owns 143,151 shares of the company’s stock worth $12,690,000 after purchasing an additional 48,002 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Invesco S&P 500 High Beta ETF by 3.1% during the 4th quarter. Ameriprise Financial Inc. now owns 55,815 shares of the company’s stock worth $4,948,000 after purchasing an additional 1,699 shares during the last quarter.

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.