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

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) shares saw an uptick in trading volume on Thursday. Approximately 588,499 shares were traded during mid-day trading, an increase of 330% from the average daily volume of 136,953 shares. The stock last traded at $73.4290 and had previously closed at $81.75.

Invesco AI and Next Gen Software ETF Trading Down 10.7%

The firm has a market cap of $1.08 billion, a P/E ratio of 28.76 and a beta of 1.48. The business has a 50-day moving average of $94.95 and a two-hundred day moving average of $83.52.

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

Several hedge funds have recently made changes to their positions in IGPT. Wealthcare Advisory Partners LLC raised its position in Invesco AI and Next Gen Software ETF by 1.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,608 shares of the company’s stock worth $688,000 after buying an additional 108 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Invesco AI and Next Gen Software ETF by 11.4% during the third quarter. Cornerstone Wealth Management LLC now owns 2,678 shares of the company’s stock worth $272,000 after purchasing an additional 275 shares in the last quarter. Focus Financial Network Inc. lifted its position in Invesco AI and Next Gen Software ETF by 8.5% in the second quarter. Focus Financial Network Inc. now owns 4,480 shares of the company’s stock valued at $466,000 after purchasing an additional 350 shares during the period. Assetmark Inc. purchased a new stake in Invesco AI and Next Gen Software ETF in the 1st quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Invesco AI and Next Gen Software ETF during the 3rd quarter worth approximately $73,000.

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.