Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Stock Falls 0.6% – Here’s What Happened

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s stock price dropped 0.6% during trading on Wednesday. The stock traded as low as $57.27 and last traded at $57.27. Approximately 23,363 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 50,359 shares. The stock had previously closed at $57.59.

Invesco Russell 1000 Equal Weight ETF Price Performance

The company has a market capitalization of $792.04 million, a price-to-earnings ratio of 18.07 and a beta of 0.90. The stock has a 50 day simple moving average of $60.15 and a two-hundred day simple moving average of $58.58.

Institutional Investors Weigh In On Invesco Russell 1000 Equal Weight ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the 2nd quarter worth about $166,000. Valeo Financial Advisors LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF in the second quarter valued at approximately $208,000. Harbour Investments Inc. increased its stake in Invesco Russell 1000 Equal Weight ETF by 30.2% in the fourth quarter. Harbour Investments Inc. now owns 3,956 shares of the company’s stock valued at $208,000 after purchasing an additional 917 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Invesco Russell 1000 Equal Weight ETF by 19.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,732 shares of the company’s stock worth $881,000 after purchasing an additional 2,703 shares in the last quarter. Finally, Breakwater Capital Group raised its holdings in Invesco Russell 1000 Equal Weight ETF by 22.6% during the first quarter. Breakwater Capital Group now owns 16,408 shares of the company’s stock worth $904,000 after purchasing an additional 3,022 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.