Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Hits New 1-Year High – Time to Buy?

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $103.10 and last traded at $103.00, with a volume of 123080 shares changing hands. The stock had previously closed at $97.26.

Invesco AI and Next Gen Software ETF Stock Up 5.8%

The company has a market capitalization of $1.16 billion, a PE ratio of 28.76 and a beta of 1.42. The stock’s fifty day simple moving average is $82.90 and its 200-day simple moving average is $68.84.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new position in Invesco AI and Next Gen Software ETF in the first quarter valued at about $32,000. SOA Wealth Advisors LLC. grew its position in shares of Invesco AI and Next Gen Software ETF by 71.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 570 shares of the company’s stock valued at $34,000 after purchasing an additional 237 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Invesco AI and Next Gen Software ETF in the fourth quarter valued at approximately $34,000. GGM Financials LLC acquired a new stake in shares of Invesco AI and Next Gen Software ETF in the third quarter valued at approximately $34,000. Finally, Indiana Trust & Investment Management Co acquired a new stake in shares of Invesco AI and Next Gen Software ETF in the fourth quarter valued at approximately $43,000.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.