Invesco Solar ETF Sees Unusually High Options Volume (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) was the recipient of some unusual options trading activity on Monday. Stock traders bought 11,178 call options on the stock. This is an increase of approximately 74% compared to the typical daily volume of 6,416 call options.

Institutional Investors Weigh In On Invesco Solar ETF

A number of institutional investors have recently made changes to their positions in TAN. JPMorgan Chase & Co. raised its position in Invesco Solar ETF by 116.2% in the first quarter. JPMorgan Chase & Co. now owns 75,624 shares of the exchange traded fund’s stock valued at $5,706,000 after purchasing an additional 543,411 shares during the period. Cibc World Market Inc. lifted its position in shares of Invesco Solar ETF by 77.3% during the first quarter. Cibc World Market Inc. now owns 25,954 shares of the exchange traded fund’s stock worth $1,958,000 after purchasing an additional 11,315 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Invesco Solar ETF during the first quarter worth about $332,000. Barometer Capital Management Inc. acquired a new position in shares of Invesco Solar ETF in the first quarter valued at approximately $626,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Invesco Solar ETF in the first quarter valued at approximately $958,000.

Invesco Solar ETF Stock Down 3.3 %

NYSEARCA:TAN opened at $40.60 on Tuesday. The stock’s fifty day moving average is $44.11 and its two-hundred day moving average is $45.72. Invesco Solar ETF has a 52 week low of $40.15 and a 52 week high of $79.09. The company has a market capitalization of $1.15 billion, a P/E ratio of 9.26 and a beta of 1.80.

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).