Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Reaches New 1-Year High – Time to Buy?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $60.07 and last traded at $60.07, with a volume of 11564 shares. The stock had previously closed at $59.87.

Invesco Russell 1000 Equal Weight ETF Trading Down 0.5%

The firm has a 50-day moving average of $59.07 and a two-hundred day moving average of $57.40. The firm has a market cap of $831.33 million, a price-to-earnings ratio of 18.07 and a beta of 0.90.

Institutional Investors Weigh In On Invesco Russell 1000 Equal Weight ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in Invesco Russell 1000 Equal Weight ETF by 53.9% during the 1st quarter. Bank of America Corp DE now owns 398,926 shares of the company’s stock valued at $21,981,000 after purchasing an additional 139,631 shares during the last quarter. Sykon Capital LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF in the third quarter valued at about $13,402,000. Geneos Wealth Management Inc. grew its position in Invesco Russell 1000 Equal Weight ETF by 24.9% during the first quarter. Geneos Wealth Management Inc. now owns 104,087 shares of the company’s stock worth $5,735,000 after buying an additional 20,722 shares in the last quarter. UBS Group AG increased its stake in Invesco Russell 1000 Equal Weight ETF by 38.4% during the fourth quarter. UBS Group AG now owns 77,545 shares of the company’s stock valued at $4,082,000 after acquiring an additional 21,498 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in Invesco Russell 1000 Equal Weight ETF by 8.4% in the 4th quarter. Arkadios Wealth Advisors now owns 50,865 shares of the company’s stock valued at $2,678,000 after acquiring an additional 3,923 shares in the last quarter.

Invesco Russell 1000 Equal Weight ETF Company Profile

The Invesco Russell 1000 Equal Weight ETF (EQAL) is an exchange-traded fund that is based on the Russell 1000 Equal Weight index. The fund tracks an index of the 1,000 largest US stocks. Each sector receives equal weight, and each stock within a sector receives equal weight. EQAL was launched on Dec 23, 2014 and is managed by Invesco.