Sax Wealth Advisors LLC Increases Position in Invesco S&P 500 Quality ETF $SPHQ

Sax Wealth Advisors LLC boosted its stake in shares of Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) by 21.3% in the second quarter, HoldingsChannel reports. The firm owned 542,051 shares of the company’s stock after purchasing an additional 95,095 shares during the quarter. Invesco S&P 500 Quality ETF makes up approximately 1.8% of Sax Wealth Advisors LLC’s holdings, making the stock its 10th largest holding. Sax Wealth Advisors LLC’s holdings in Invesco S&P 500 Quality ETF were worth $48,839,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Invesco S&P 500 Quality ETF by 68.0% in the second quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock valued at $658,846,000 after buying an additional 3,741,699 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Invesco S&P 500 Quality ETF by 61.2% during the second quarter. Raymond James Financial Inc. now owns 3,869,397 shares of the company’s stock valued at $275,733,000 after acquiring an additional 1,469,187 shares during the period. Independence Asset Advisors LLC acquired a new position in shares of Invesco S&P 500 Quality ETF during the first quarter valued at $73,856,000. Alvarez & Marsal Private Wealth Partners LLC bought a new position in shares of Invesco S&P 500 Quality ETF during the fourth quarter worth about $58,114,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Invesco S&P 500 Quality ETF by 2,247.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 561,746 shares of the company’s stock worth $42,159,000 after acquiring an additional 537,812 shares during the period.

Invesco S&P 500 Quality ETF Stock Up 0.2%

SPHQ stock opened at $85.97 on Friday. The stock has a market cap of $19.74 billion, a PE ratio of 25.36 and a beta of 0.91. The firm’s 50-day simple moving average is $86.63 and its 200 day simple moving average is $81.87. Invesco S&P 500 Quality ETF has a fifty-two week low of $71.40 and a fifty-two week high of $90.36.

About Invesco S&P 500 Quality ETF

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.