Invesco S&P MidCap 400 Pure Growth ETF (NYSEARCA:RFG) Shares Down 1.2% – Here’s Why

Invesco S&P MidCap 400 Pure Growth ETF (NYSEARCA:RFG)’s stock price traded down 1.2% during trading on Tuesday . The company traded as low as $59.65 and last traded at $59.69. 1,700 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 9,768 shares. The stock had previously closed at $60.44.

Invesco S&P MidCap 400 Pure Growth ETF Price Performance

The firm has a market capitalization of $344.21 million, a P/E ratio of 20.52 and a beta of 1.12. The firm’s 50 day simple moving average is $61.69 and its two-hundred day simple moving average is $60.19.

Institutional Investors Weigh In On Invesco S&P MidCap 400 Pure Growth ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tempo Wealth LLC purchased a new position in shares of Invesco S&P MidCap 400 Pure Growth ETF in the fourth quarter worth $889,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Invesco S&P MidCap 400 Pure Growth ETF during the fourth quarter worth about $443,000. Independent Financial Group LLC bought a new stake in shares of Invesco S&P MidCap 400 Pure Growth ETF in the first quarter worth about $755,000. Fifth Third Bancorp bought a new stake in shares of Invesco S&P MidCap 400 Pure Growth ETF in the 1st quarter worth approximately $266,000. Finally, Kestra Advisory Services LLC lifted its stake in Invesco S&P MidCap 400 Pure Growth ETF by 7.8% in the first quarter. Kestra Advisory Services LLC now owns 24,255 shares of the company’s stock worth $1,329,000 after acquiring an additional 1,752 shares during the period.

Invesco S&P MidCap 400 Pure Growth ETF Company Profile

Rydex S&P MidCap 400 Pure Growth ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P MidCap 400 Pure Growth Index (the Index). The Index is narrow in focus, containing only those S&P MidCap 400 companies with strong growth characteristics as selected by S&P. The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index.