Traders Purchase Large Volume of Put Options on Invesco Solar ETF (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) was the target of some unusual options trading on Wednesday. Investors bought 20,569 put options on the stock. This represents an increase of 404% compared to the average volume of 4,083 put options.

Invesco Solar ETF Stock Up 7.5 %

TAN opened at $27.97 on Thursday. The company has a market capitalization of $664.85 million, a PE ratio of 16.82 and a beta of 1.42. The firm has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $35.02. Invesco Solar ETF has a 52 week low of $25.53 and a 52 week high of $49.93.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TAN. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Invesco Solar ETF during the 4th quarter worth $44,050,000. National Bank of Canada FI increased its stake in shares of Invesco Solar ETF by 203.3% during the third quarter. National Bank of Canada FI now owns 447,803 shares of the exchange traded fund’s stock valued at $19,305,000 after buying an additional 300,149 shares during the period. OLD Mission Capital LLC purchased a new position in shares of Invesco Solar ETF during the fourth quarter valued at $3,166,000. GTS Securities LLC raised its holdings in shares of Invesco Solar ETF by 222.9% in the fourth quarter. GTS Securities LLC now owns 28,074 shares of the exchange traded fund’s stock valued at $930,000 after acquiring an additional 50,921 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in Invesco Solar ETF in the fourth quarter worth about $1,461,000.

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).