Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Sets New 1-Year High – Time to Buy?

Shares of Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.97 and last traded at $40.9050, with a volume of 1470 shares changing hands. The stock had previously closed at $40.73.

Invesco S&P 500 QVM Multi-factor ETF Trading Up 0.4%

The company has a market capitalization of $1.52 billion, a PE ratio of 23.98 and a beta of 0.97. The company has a fifty day simple moving average of $40.18 and a 200-day simple moving average of $39.15.

Hedge Funds Weigh In On Invesco S&P 500 QVM Multi-factor ETF

Several institutional investors and hedge funds have recently bought and sold shares of QVML. Private Trust Co. NA purchased a new stake in shares of Invesco S&P 500 QVM Multi-factor ETF during the 2nd quarter valued at approximately $44,000. Advisory Services Network LLC purchased a new position in Invesco S&P 500 QVM Multi-factor ETF in the third quarter worth approximately $114,000. Northwestern Mutual Wealth Management Co. increased its stake in Invesco S&P 500 QVM Multi-factor ETF by 22.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,219 shares of the company’s stock worth $205,000 after acquiring an additional 963 shares during the last quarter. Jane Street Group LLC raised its position in Invesco S&P 500 QVM Multi-factor ETF by 71.7% in the first quarter. Jane Street Group LLC now owns 21,660 shares of the company’s stock valued at $726,000 after purchasing an additional 9,043 shares during the period. Finally, Bank of America Corp DE raised its position in Invesco S&P 500 QVM Multi-factor ETF by 42.4% in the second quarter. Bank of America Corp DE now owns 34,237 shares of the company’s stock valued at $1,254,000 after purchasing an additional 10,191 shares during the period.

About Invesco S&P 500 QVM Multi-factor ETF

The Invesco S&P 500 QVM Multi-factor ETF (QVML) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a market-cap-weighted index that selects the top 90% of stocks in the S&P 500 based on three factors: quality, value, and momentum. QVML was launched on Jun 30, 2021 and is managed by Invesco.