Invesco Solar ETF (NYSEARCA:TAN) Reaches New 12-Month Low – Should You Sell?

Shares of Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week low during trading on Monday. The stock traded as low as $43.00 and last traded at $43.00, with a volume of 298487 shares trading hands. The stock had previously closed at $44.06.

Invesco Solar ETF Stock Up 1.0%

The stock’s 50 day moving average price is $48.76 and its two-hundred day moving average price is $55.43. The stock has a market cap of $889.88 million, a price-to-earnings ratio of 18.04 and a beta of 1.39.

Institutional Investors Weigh In On Invesco Solar ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TAN. Watershed Asset Management L.L.C. acquired a new stake in Invesco Solar ETF during the first quarter worth about $2,006,000. Del Sette Capital Management LLC acquired a new position in Invesco Solar ETF in the first quarter valued at approximately $802,000. Bank of America Corp DE boosted its position in Invesco Solar ETF by 9.5% in the 1st quarter. Bank of America Corp DE now owns 325,356 shares of the exchange traded fund’s stock worth $18,126,000 after purchasing an additional 28,203 shares in the last quarter. Nwam LLC boosted its position in Invesco Solar ETF by 65.0% in the 1st quarter. Nwam LLC now owns 90,588 shares of the exchange traded fund’s stock worth $5,047,000 after purchasing an additional 35,689 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of Invesco Solar ETF during the 4th quarter valued at approximately $522,000.

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.