Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Hits New 1-Year High – Time to Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ)’s share price hit a new 52-week high on Monday . The company traded as high as $77.46 and last traded at $77.44, with a volume of 512096 shares traded. The stock had previously closed at $77.35.

Invesco S&P 500 Quality ETF Stock Up 0.4%

The firm has a market capitalization of $15.56 billion, a P/E ratio of 25.36 and a beta of 0.92. The business’s 50 day moving average is $74.77 and its 200-day moving average is $73.34.

Hedge Funds Weigh In On Invesco S&P 500 Quality ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baird Financial Group Inc. lifted its position in Invesco S&P 500 Quality ETF by 458.9% in the 2nd quarter. Baird Financial Group Inc. now owns 208,184 shares of the company’s stock valued at $14,835,000 after acquiring an additional 170,936 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in Invesco S&P 500 Quality ETF by 3.4% during the 2nd quarter. Crestwood Advisors Group LLC now owns 39,672 shares of the company’s stock worth $2,827,000 after purchasing an additional 1,323 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Invesco S&P 500 Quality ETF by 9.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,843,952 shares of the company’s stock worth $131,400,000 after purchasing an additional 161,638 shares during the last quarter. CW Advisors LLC lifted its holdings in shares of Invesco S&P 500 Quality ETF by 72.8% in the second quarter. CW Advisors LLC now owns 17,122 shares of the company’s stock valued at $1,220,000 after purchasing an additional 7,216 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in shares of Invesco S&P 500 Quality ETF by 14.8% in the third quarter. Redhawk Wealth Advisors Inc. now owns 53,100 shares of the company’s stock valued at $3,892,000 after purchasing an additional 6,850 shares in the last quarter.

Invesco S&P 500 Quality ETF Company Profile

The Invesco S&P 500 Quality ETF (SPHQ) is an exchange-traded fund that is based on the S&P 500 Quality index. The fund tracks an index of US large-cap stocks selected by return on equity, changes in net operating assets and financial leverage. Stocks are weighted by these quality factors, scaled by market cap. SPHQ was launched on Dec 6, 2005 and is managed by Invesco.