Claro Advisors LLC Acquires Shares in Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)

On October 20, 2024, it was reported that Claro Advisors LLC made a significant investment in the Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG). In the third quarter of the year, Claro Advisors acquired a total of 8,871 shares of this exchange-traded fund (ETF), amounting to a value of approximately $422,000. This marks a notable addition to their investment portfolio.

In addition to Claro Advisors, several other institutional investors have also shown interest in the Invesco S&P 500 Top 50 ETF. For instance, Pineridge Advisors LLC took a new stake in the fund worth around $42,000 during the second quarter. Meanwhile, International Assets Investment Management LLC acquired shares in the same quarter, valued at $73,000. VitalStone Financial LLC increased its holdings by 21.7% in the first quarter, owning 1,789 shares valued at $75,000 after purchasing an additional 319 shares. Furthermore, Hazlett Burt & Watson Inc. elevated its stake in the ETF by an impressive 412.2% during the first quarter, now holding 1,926 shares worth $81,000 after acquiring an additional 1,550 shares. First Personal Financial Services also entered the market, buying a new stake valued at $97,000 in the second quarter.

Invesco S&P 500 Top 50 ETF Price and Performance

The Invesco S&P 500 Top 50 ETF started the day at $48.38. It has seen a 50-day moving average of $46.63 and a 200-day moving average of $44.84. Throughout the last year, the ETF reached a low of $32.74 and a high of $48.56. Currently, it has a market capitalization of $4.72 billion, a price-to-earnings (PE) ratio of 2.92, and a beta value of 1.08, indicating a relatively stable performance compared to the overall market.

Invesco S&P 500 Top 50 ETF Overview

The Invesco S&P 500 Top 50 ETF, previously known as the Rydex Russell Top 50 ETF, aims to closely replicate the performance of the Russell Top 50 Index. This index is an unmanaged capitalization-weighted index made up of the 50 largest companies within the broader Russell 3000 Index.

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investment, ETF, finance