Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sees Strong Trading Volume – Should You Buy?

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) saw an uptick in trading volume on Friday . 151,082 shares changed hands during trading, a decline of 32% from the previous session’s volume of 222,988 shares.The stock last traded at $89.37 and had previously closed at $90.26.

Invesco S&P 500 High Beta ETF Trading Down 1.4 %

The company has a market capitalization of $631.97 million, a PE ratio of 22.23 and a beta of 1.48. The firm has a 50 day simple moving average of $91.45 and a two-hundred day simple moving average of $87.96.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in shares of Invesco S&P 500 High Beta ETF by 60.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,383 shares of the company’s stock worth $1,384,000 after purchasing an additional 6,174 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Invesco S&P 500 High Beta ETF by 27.8% during the second quarter. Bank of Montreal Can now owns 8,732 shares of the company’s stock valued at $742,000 after acquiring an additional 1,902 shares during the last quarter. Millennium Management LLC purchased a new stake in Invesco S&P 500 High Beta ETF during the 2nd quarter worth about $3,965,000. Chicago Wealth Management Inc. raised its stake in Invesco S&P 500 High Beta ETF by 131.6% in the 2nd quarter. Chicago Wealth Management Inc. now owns 6,435 shares of the company’s stock valued at $543,000 after purchasing an additional 3,656 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Invesco S&P 500 High Beta ETF by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 12,349 shares of the company’s stock valued at $1,043,000 after purchasing an additional 1,193 shares in the last quarter.

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.