Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Hits New 52-Week High – Still a Buy?

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $57.15 and last traded at $57.15, with a volume of 1664032 shares. The stock had previously closed at $56.65.

Invesco S&P 500 Top 50 ETF Stock Performance

The stock has a market cap of $10.46 billion, a PE ratio of 27.80 and a beta of 1.00. The stock has a fifty day moving average price of $54.31 and a 200 day moving average price of $49.93.

Hedge Funds Weigh In On Invesco S&P 500 Top 50 ETF

A number of institutional investors and hedge funds have recently modified their holdings of XLG. Soundwatch Capital LLC purchased a new position in shares of Invesco S&P 500 Top 50 ETF in the 2nd quarter worth approximately $1,790,000. Bank of New York Mellon Corp purchased a new position in shares of Invesco S&P 500 Top 50 ETF in the 1st quarter worth approximately $110,557,000. Invesco Ltd. boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 212.9% in the 1st quarter. Invesco Ltd. now owns 3,363,435 shares of the company’s stock worth $154,785,000 after purchasing an additional 2,288,508 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 130.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,505,947 shares of the company’s stock worth $115,324,000 after purchasing an additional 1,417,535 shares during the period. Finally, Principle Wealth Partners LLC boosted its holdings in shares of Invesco S&P 500 Top 50 ETF by 85.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 2,682,223 shares of the company’s stock worth $139,744,000 after purchasing an additional 1,232,337 shares during the period.

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.