Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Reaches New 1-Year High – Here’s Why

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $92.04 and last traded at $92.02, with a volume of 83824 shares trading hands. The stock had previously closed at $90.90.

Invesco S&P 500 High Beta ETF Price Performance

The stock has a market capitalization of $653.84 million, a P/E ratio of 22.23 and a beta of 1.48. The company has a fifty day moving average of $87.53 and a two-hundred day moving average of $85.35.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SPHB. International Assets Investment Management LLC acquired a new stake in Invesco S&P 500 High Beta ETF during the 2nd quarter valued at $74,000. Vontobel Holding Ltd. bought a new stake in Invesco S&P 500 High Beta ETF in the third quarter worth $217,000. MGB Wealth Management LLC boosted its holdings in Invesco S&P 500 High Beta ETF by 17.2% in the first quarter. MGB Wealth Management LLC now owns 2,552 shares of the company’s stock worth $224,000 after purchasing an additional 375 shares in the last quarter. Hanlon Investment Management Inc. raised its position in shares of Invesco S&P 500 High Beta ETF by 11.8% during the second quarter. Hanlon Investment Management Inc. now owns 4,876 shares of the company’s stock valued at $412,000 after buying an additional 514 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Invesco S&P 500 High Beta ETF in the first quarter worth about $467,000.

About Invesco S&P 500 High Beta ETF

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.