Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Reaches New 12-Month High – Should You Buy?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.00 and last traded at $59.00, with a volume of 6627 shares traded. The stock had previously closed at $58.70.

Invesco Russell 1000 Equal Weight ETF Trading Up 0.5%

The stock has a market cap of $808.16 million, a price-to-earnings ratio of 18.07 and a beta of 0.91. The stock’s 50-day moving average price is $56.87 and its 200-day moving average price is $55.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Wealth Advisors LLC acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF during the 4th quarter valued at $45,000. Lodestone Wealth Management LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the fourth quarter worth $81,000. Jones Financial Companies Lllp raised its holdings in Invesco Russell 1000 Equal Weight ETF by 15.1% during the third quarter. Jones Financial Companies Lllp now owns 3,818 shares of the company’s stock worth $198,000 after buying an additional 501 shares during the last quarter. Captrust Financial Advisors acquired a new position in Invesco Russell 1000 Equal Weight ETF during the second quarter worth $203,000. Finally, Cahill Financial Advisors Inc. acquired a new position in Invesco Russell 1000 Equal Weight ETF during the third quarter worth $208,000.

About Invesco Russell 1000 Equal Weight ETF

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.