Invesco Semiconductors ETF (NYSEARCA:PSI) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Invesco Semiconductors ETF (NYSEARCA:PSI) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $76.95 and traded as high as $80.96. Invesco Semiconductors ETF shares last traded at $80.82, with a volume of 23,157 shares.

Invesco Semiconductors ETF Stock Performance

The company has a 50-day simple moving average of $76.95 and a two-hundred day simple moving average of $68.10. The firm has a market capitalization of $1.01 billion, a P/E ratio of 29.05 and a beta of 1.57.

Institutional Trading of Invesco Semiconductors ETF

A number of hedge funds have recently modified their holdings of PSI. Warner Group LLC bought a new position in shares of Invesco Semiconductors ETF in the 3rd quarter worth about $13,566,000. Ameriprise Financial Inc. grew its holdings in Invesco Semiconductors ETF by 833.9% in the second quarter. Ameriprise Financial Inc. now owns 151,834 shares of the company’s stock worth $9,129,000 after purchasing an additional 135,576 shares during the period. Captrust Financial Advisors increased its stake in shares of Invesco Semiconductors ETF by 33.2% during the second quarter. Captrust Financial Advisors now owns 243,386 shares of the company’s stock valued at $14,593,000 after purchasing an additional 60,614 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Invesco Semiconductors ETF by 21.8% during the third quarter. Bank of America Corp DE now owns 230,135 shares of the company’s stock valued at $16,184,000 after purchasing an additional 41,215 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Invesco Semiconductors ETF during the second quarter valued at approximately $2,398,000.

About Invesco Semiconductors ETF

PowerShares Dynamic Semiconductors Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Semiconductors Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States semiconductors companies. These are companies that are principally engaged in the manufacture of semiconductors.