Invesco Solar ETF (NYSEARCA:TAN) Shares Gap Down – Here’s Why

Invesco Solar ETF (NYSEARCA:TAN)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $42.02, but opened at $40.70. Invesco Solar ETF shares last traded at $40.3390, with a volume of 343,540 shares.

Invesco Solar ETF Stock Down 3.8%

The firm has a fifty day moving average price of $45.36 and a 200-day moving average price of $54.17. The firm has a market cap of $864.18 million, a price-to-earnings ratio of 18.04 and a beta of 1.41.

Institutional Investors Weigh In On Invesco Solar ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in shares of Invesco Solar ETF by 5.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 7,090 shares of the exchange traded fund’s stock worth $419,000 after purchasing an additional 339 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of Invesco Solar ETF by 8.6% during the 1st quarter. Kestra Advisory Services LLC now owns 10,745 shares of the exchange traded fund’s stock worth $599,000 after purchasing an additional 852 shares during the period. Parallel Advisors LLC grew its holdings in shares of Invesco Solar ETF by 171.2% during the 1st quarter. Parallel Advisors LLC now owns 1,535 shares of the exchange traded fund’s stock worth $86,000 after purchasing an additional 969 shares during the period. NFSG Corp purchased a new stake in shares of Invesco Solar ETF during the 1st quarter worth about $56,000. Finally, Capital Investment Advisors LLC increased its position in Invesco Solar ETF by 6.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 16,680 shares of the exchange traded fund’s stock worth $733,000 after purchasing an additional 1,001 shares in the last quarter.

Invesco Solar ETF Company Profile

Guggenheim Solar ETF, formerly Claymore/MAC Global Solar Energy Index ETF, seeks investment results that correspond generally to the performance of an equity index called the MAC Global Solar Energy Index (the Index). The Index consists of approximately 25 stocks selected based on the relative importance of solar power within the Company’s business model, as determined by MAC Indexing LLC (the Index Provider). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.