Invesco Solar ETF (NYSEARCA:TAN) Hits New 12-Month Low – Should You Sell?

Invesco Solar ETF (NYSEARCA:TAN) reached a new 52-week low on Wednesday . The company traded as low as $33.36 and last traded at $33.62, with a volume of 795229 shares changing hands. The stock had previously closed at $34.63.

Invesco Solar ETF Stock Performance

The company has a 50-day moving average of $36.59 and a 200 day moving average of $40.04. The firm has a market cap of $807.98 million, a P/E ratio of 9.19 and a beta of 1.81.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TAN. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Invesco Solar ETF by 205.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,600,000 shares of the exchange traded fund’s stock valued at $112,086,000 after buying an additional 1,750,000 shares during the period. National Bank of Canada FI boosted its position in shares of Invesco Solar ETF by 203.3% in the 3rd quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock worth $19,305,000 after purchasing an additional 300,149 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Invesco Solar ETF by 698.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 123,936 shares of the exchange traded fund’s stock worth $4,983,000 after purchasing an additional 108,411 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Invesco Solar ETF in the third quarter valued at about $1,033,000. Finally, Quadrature Capital Ltd acquired a new position in Invesco Solar ETF in the third quarter valued at about $969,000.

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).