Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $63.26 and traded as high as $63.43. Invesco S&P 500 Top 50 ETF shares last traded at $63.30, with a volume of 762,920 shares.

Invesco S&P 500 Top 50 ETF Trading Up 0.9%

The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 27.80 and a beta of 1.06. The stock’s fifty day simple moving average is $63.26 and its 200-day simple moving average is $60.62.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Several large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its stake in Invesco S&P 500 Top 50 ETF by 77.0% during the second quarter. Sequoia Financial Advisors LLC now owns 38,654 shares of the company’s stock worth $2,394,000 after purchasing an additional 16,813 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Invesco S&P 500 Top 50 ETF by 9.1% in the second quarter. Concurrent Investment Advisors LLC now owns 153,999 shares of the company’s stock valued at $9,444,000 after purchasing an additional 12,814 shares during the last quarter. Aspire Capital Advisors LLC increased its stake in Invesco S&P 500 Top 50 ETF by 17.3% in the second quarter. Aspire Capital Advisors LLC now owns 94,434 shares of the company’s stock valued at $5,782,000 after purchasing an additional 13,913 shares during the last quarter. Modern Wealth Management LLC purchased a new position in Invesco S&P 500 Top 50 ETF in the first quarter valued at approximately $1,475,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Invesco S&P 500 Top 50 ETF during the second quarter worth approximately $9,532,000.

About Invesco S&P 500 Top 50 ETF

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) is an exchange-traded fund managed by Invesco Ltd. The fund seeks to provide investment results that generally correspond to the performance of the S&P 500 Top 50 Index, which is designed to track the 50 largest companies in the S&P 500 Index.

XLG provides focused exposure to large-cap U.S. equities across a range of industries, including information technology, consumer, health care, financial services and communications. Its holdings are generally weighted according to the methodology of the underlying index, giving investors access to many of the largest publicly traded companies in the United States through a single fund.

The fund began operations in 2005 and is listed on NYSE Arca.