Invesco Solar ETF (NYSEARCA:TAN) Sets New 52-Week Low – Should You Sell?

Shares of Invesco Solar ETF (NYSEARCA:TAN) hit a new 52-week low on Friday. The stock traded as low as $39.84 and last traded at $40.2660, with a volume of 66,228 shares trading hands. The stock had previously closed at $41.18.

Invesco Solar ETF Trading Down 3.3%

The firm has a market cap of $851.08 million, a P/E ratio of 18.04 and a beta of 1.41. The business’s fifty day simple moving average is $45.00 and its 200-day simple moving average is $54.07.

Institutional Investors Weigh In On Invesco Solar ETF

A number of institutional investors have recently made changes to their positions in TAN. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Invesco Solar ETF in the first quarter valued at about $99,186,000. Bank of America Corp DE boosted its position in shares of Invesco Solar ETF by 9.5% during the 1st quarter. Bank of America Corp DE now owns 325,356 shares of the exchange traded fund’s stock valued at $18,126,000 after acquiring an additional 28,203 shares during the last quarter. Ayalon Insurance Comp Ltd. lifted its position in Invesco Solar ETF by 338.4% during the third quarter. Ayalon Insurance Comp Ltd. now owns 172,300 shares of the exchange traded fund’s stock valued at $7,576,000 after purchasing an additional 133,000 shares during the last quarter. NTV Asset Management LLC bought a new position in shares of Invesco Solar ETF in the 3rd quarter valued at about $4,401,000. Finally, Private Advisor Group LLC increased its stake in Invesco Solar ETF by 5.6% during the first quarter. Private Advisor Group LLC now owns 99,984 shares of the exchange traded fund’s stock worth $5,570,000 after acquiring an additional 5,337 shares during the last quarter.

About Invesco Solar ETF

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). The Index is designed to track companies within the business segments of the solar energy industry, which include companies that produce solar power equipment and products for end users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers.