Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Hits New 1-Year High – Should You Buy?

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

Invesco Russell 1000 Equal Weight ETF Stock Performance

The firm’s fifty day moving average is $57.00 and its 200-day moving average is $55.24. The company has a market capitalization of $806.38 million, a P/E ratio of 18.07 and a beta of 0.91.

Institutional Trading of Invesco Russell 1000 Equal Weight ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Invesco Russell 1000 Equal Weight ETF by 53.9% in the 1st quarter. Bank of America Corp DE now owns 398,926 shares of the company’s stock valued at $21,981,000 after acquiring an additional 139,631 shares during the last quarter. Sykon Capital LLC bought a new stake in Invesco Russell 1000 Equal Weight ETF during the 3rd quarter worth $13,402,000. Geneos Wealth Management Inc. increased its holdings in Invesco Russell 1000 Equal Weight ETF by 24.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 104,087 shares of the company’s stock worth $5,735,000 after purchasing an additional 20,722 shares in the last quarter. UBS Group AG increased its holdings in Invesco Russell 1000 Equal Weight ETF by 38.4% in the 4th quarter. UBS Group AG now owns 77,545 shares of the company’s stock worth $4,082,000 after purchasing an additional 21,498 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in Invesco Russell 1000 Equal Weight ETF by 8.4% in the fourth quarter. Arkadios Wealth Advisors now owns 50,865 shares of the company’s stock valued at $2,678,000 after purchasing an additional 3,923 shares during 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.