Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Hits New 12-Month High – Time to Buy?

Shares of Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) hit a new 52-week high during trading on Tuesday . The company traded as high as $83.08 and last traded at $82.99, with a volume of 978857 shares traded. The stock had previously closed at $82.44.

Invesco S&P 500 Quality ETF Price Performance

The business’s 50 day moving average is $78.35 and its 200 day moving average is $76.92. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 25.36 and a beta of 0.91.

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

A number of institutional investors and hedge funds have recently modified their holdings of SPHQ. Brighton Jones LLC boosted its stake in Invesco S&P 500 Quality ETF by 4.0% in the fourth quarter. Brighton Jones LLC now owns 3,948 shares of the company’s stock valued at $265,000 after acquiring an additional 151 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Invesco S&P 500 Quality ETF by 51.2% during the first quarter. AQR Capital Management LLC now owns 5,854 shares of the company’s stock worth $388,000 after purchasing an additional 1,983 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Invesco S&P 500 Quality ETF during the first quarter worth about $875,000. Jane Street Group LLC increased its position in shares of Invesco S&P 500 Quality ETF by 29.2% during the first quarter. Jane Street Group LLC now owns 9,937 shares of the company’s stock worth $659,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Invesco S&P 500 Quality ETF by 53.5% during the second quarter. Invesco Ltd. now owns 115,321 shares of the company’s stock worth $8,218,000 after purchasing an additional 40,210 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.