28-Mar-2024
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The Invesco S&P 500 High Beta ETF (Fund) is based on the S&P 500 High Beta Index (Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poors and consists of the 100 stocks from the S&P 500 Index with the highest sensitivity to market movements, or beta, over the past 12 months. Beta is a measure of relative risk and is the rate of change of a securitys price. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.
Invesco S&P 500 High Beta ETF trades on the ARCA stock market under the symbol SPHB.
As of March 28, 2024, SPHB stock price climbed to $87.74 with 196,945 million shares trading.
SPHB has a beta of 1.58, meaning it tends to be more sensitive to market movements. SPHB has a correlation of 0.77 to the broad based SPY ETF.
SPHB has a market cap of $632.61 million. This is considered a Small Cap stock.
In the last 3 years, SPHB stock traded as high as $87.90 and as low as $54.60.
SPHB has underperformed the market in the last year with a return of +32.7%, while the SPY ETF gained +33.6%. In the last 3 month period, SPHB fell short of the market, returning +5.9%, while SPY returned +10.1%. However, in the most recent 2 weeks SPHB has outperformed the stock market by returning +2.9%, while SPY returned +1.7%.
SPHB support price is $86.45 and resistance is $88.30 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SPHB stock will trade within this expected range on the day.