ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Sets New 12-Month High – Should You Buy?

ALPS Equal Sector Weight ETF (NYSEARCA:EQL)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $48.48 and last traded at $48.3920, with a volume of 19635 shares trading hands. The stock had previously closed at $48.20.

ALPS Equal Sector Weight ETF Stock Up 0.1%

The company has a 50 day simple moving average of $47.00 and a 200-day simple moving average of $45.98. The stock has a market capitalization of $624.58 million, a price-to-earnings ratio of 22.84 and a beta of 0.91.

Institutional Trading of ALPS Equal Sector Weight ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQL. Cullen Frost Bankers Inc. bought a new position in ALPS Equal Sector Weight ETF in the third quarter worth approximately $29,000. Blue Trust Inc. bought a new position in shares of ALPS Equal Sector Weight ETF in the 2nd quarter worth $38,000. BOK Financial Private Wealth Inc. grew its position in ALPS Equal Sector Weight ETF by 200.0% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 1,200 shares of the company’s stock valued at $53,000 after purchasing an additional 800 shares during the period. Smartleaf Asset Management LLC increased its stake in ALPS Equal Sector Weight ETF by 160.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,308 shares of the company’s stock valued at $57,000 after purchasing an additional 806 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in ALPS Equal Sector Weight ETF during the fourth quarter worth $79,000.

ALPS Equal Sector Weight ETF Company Profile

The ALPS Equal Sector Weight ETF (EQL) is an exchange-traded fund that is based on the NYSE Select Sector Equal Weight index. The fund tracks an equal-weighted index of all select sector SPDR ETFs. EQL was launched on Jul 7, 2009 and is managed by ALPS.