Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Reaches New 12-Month High – Time to Buy?

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $71.43 and last traded at $71.32, with a volume of 6467 shares trading hands. The stock had previously closed at $70.67.

Invesco AI and Next Gen Software ETF Price Performance

The stock has a market capitalization of $796.62 million, a P/E ratio of 28.76 and a beta of 1.17. The firm’s 50 day moving average price is $62.60 and its 200 day moving average price is $60.71.

Hedge Funds Weigh In On Invesco AI and Next Gen Software ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its stake in shares of Invesco AI and Next Gen Software ETF by 71.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 570 shares of the company’s stock valued at $34,000 after acquiring an additional 237 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Invesco AI and Next Gen Software ETF during the fourth quarter valued at about $34,000. GGM Financials LLC bought a new position in shares of Invesco AI and Next Gen Software ETF during the third quarter valued at about $34,000. Indiana Trust & Investment Management Co bought a new position in shares of Invesco AI and Next Gen Software ETF during the fourth quarter valued at about $43,000. Finally, Harbour Investments Inc. raised its stake in shares of Invesco AI and Next Gen Software ETF by 13.7% during the fourth quarter. Harbour Investments Inc. now owns 1,690 shares of the company’s stock valued at $101,000 after acquiring an additional 203 shares during the last quarter.

Invesco AI and Next Gen Software ETF Company Profile

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.