Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) saw an uptick in trading volume on Tuesday . Approximately 124,429 shares changed hands during trading, an increase of 9% from the previous session’s volume of 114,577 shares.The stock last traded at $93.47 and had previously closed at $98.14.

Invesco AI and Next Gen Software ETF Stock Down 3.1%

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 28.76 and a beta of 1.40. The business’s 50 day simple moving average is $94.09 and its 200 day simple moving average is $73.70.

Institutional Investors Weigh In On Invesco AI and Next Gen Software ETF

Several hedge funds have recently bought and sold shares of the company. LPL Financial LLC grew its holdings in Invesco AI and Next Gen Software ETF by 9.6% during the fourth quarter. LPL Financial LLC now owns 449,076 shares of the company’s stock worth $26,707,000 after purchasing an additional 39,155 shares during the period. Berkshire Money Management Inc. raised its stake in Invesco AI and Next Gen Software ETF by 0.9% in the fourth quarter. Berkshire Money Management Inc. now owns 245,620 shares of the company’s stock valued at $14,607,000 after buying an additional 2,105 shares during the period. Bank of America Corp DE lifted its position in shares of Invesco AI and Next Gen Software ETF by 5.9% in the third quarter. Bank of America Corp DE now owns 161,385 shares of the company’s stock valued at $8,720,000 after buying an additional 8,953 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Invesco AI and Next Gen Software ETF by 7.8% during the 4th quarter. Osaic Holdings Inc. now owns 133,192 shares of the company’s stock worth $7,921,000 after acquiring an additional 9,602 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Invesco AI and Next Gen Software ETF by 282.1% during the 4th quarter. Royal Bank of Canada now owns 119,030 shares of the company’s stock worth $7,078,000 after acquiring an additional 87,882 shares during the period.

Invesco AI and Next Gen Software ETF Company Profile

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.