Investors Purchase Large Volume of Call Options on Invesco Solar ETF (NYSEARCA:TAN)

Invesco Solar ETF (NYSEARCA:TAN) saw some unusual options trading on Monday. Investors bought 11,178 call options on the company. This represents an increase of approximately 74% compared to the typical volume of 6,416 call options.

Invesco Solar ETF Stock Performance

Shares of NYSEARCA:TAN opened at $39.74 on Wednesday. The stock has a fifty day moving average of $44.06 and a 200-day moving average of $45.64. The company has a market capitalization of $1.12 billion, a PE ratio of 9.26 and a beta of 1.80. Invesco Solar ETF has a one year low of $39.58 and a one year high of $79.09.

Institutional Trading of Invesco Solar ETF

A number of hedge funds have recently modified their holdings of TAN. JPMorgan Chase & Co. increased its stake in shares of 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 worth $5,706,000 after acquiring an additional 543,411 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Invesco Solar ETF by 77.3% in the first quarter. Cibc World Market Inc. now owns 25,954 shares of the exchange traded fund’s stock worth $1,958,000 after acquiring an additional 11,315 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Invesco Solar ETF in the first quarter worth $332,000. Barometer Capital Management Inc. acquired a new position in shares of Invesco Solar ETF in the first quarter worth $626,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Invesco Solar ETF in the first quarter worth $958,000.

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).