Invesco Solar ETF (NYSEARCA:TAN) Hits New 1-Year Low – Time to Sell?

Invesco Solar ETF (NYSEARCA:TAN) shares reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $40.75 and last traded at $41.75, with a volume of 937,483 shares. The stock had previously closed at $41.31.

Invesco Solar ETF Stock Down 2.8%

The company’s fifty day moving average is $45.90 and its 200 day moving average is $53.93. The stock has a market cap of $867.11 million, a PE ratio of 18.04 and a beta of 1.41.

Institutional Investors Weigh In On Invesco Solar ETF

Several large investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Invesco Solar ETF during the 1st quarter valued at $99,186,000. Decker Retirement Planning Inc. purchased a new stake in Invesco Solar ETF during the 1st quarter worth $9,745,000. Ayalon Insurance Comp Ltd. boosted its position in Invesco Solar ETF by 338.4% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 172,300 shares of the exchange traded fund’s stock worth $7,576,000 after purchasing an additional 133,000 shares during the period. Meitav Investment House Ltd. purchased a new stake in Invesco Solar ETF during the 1st quarter worth $3,888,000. Finally, Hilltop Holdings Inc. acquired a new stake in Invesco Solar ETF in the 1st quarter valued at $2,558,000.

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.