Institute for Wealth Management LLC. Sells 3,786 Shares of Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG)

Institute for Wealth Management LLC. reduced its holdings in Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,465 shares of the company’s stock after selling 3,786 shares during the period. Institute for Wealth Management LLC.’s holdings in Invesco S&P 500 Top 50 ETF were worth $2,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in Invesco S&P 500 Top 50 ETF by 1,154.0% in the 3rd quarter. LPL Financial LLC now owns 4,598,014 shares of the company’s stock worth $156,149,000 after buying an additional 4,231,355 shares during the period. Morgan Stanley increased its position in shares of Invesco S&P 500 Top 50 ETF by 1,119.9% during the third quarter. Morgan Stanley now owns 3,079,024 shares of the company’s stock valued at $104,564,000 after purchasing an additional 2,826,631 shares during the period. Ameriprise Financial Inc. increased its position in shares of Invesco S&P 500 Top 50 ETF by 2,249.1% during the third quarter. Ameriprise Financial Inc. now owns 1,918,023 shares of the company’s stock valued at $65,132,000 after purchasing an additional 1,836,373 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Invesco S&P 500 Top 50 ETF by 897.9% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,577,870 shares of the company’s stock valued at $53,584,000 after purchasing an additional 1,419,748 shares during the period. Finally, UBS Group AG increased its position in shares of Invesco S&P 500 Top 50 ETF by 899.0% during the third quarter. UBS Group AG now owns 1,522,981 shares of the company’s stock valued at $51,720,000 after purchasing an additional 1,370,533 shares during the period.

Invesco S&P 500 Top 50 ETF Price Performance

Shares of XLG traded down $0.66 on Friday, reaching $39.88. 1,575,769 shares of the stock traded hands, compared to its average volume of 1,143,709. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 2.95 and a beta of 1.08. Invesco S&P 500 Top 50 ETF has a 12 month low of $30.81 and a 12 month high of $42.53. The stock’s 50-day moving average price is $41.41 and its 200-day moving average price is $38.31.

About Invesco S&P 500 Top 50 ETF

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index.