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

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.34 and last traded at $59.30, with a volume of 4827 shares traded. The stock had previously closed at $58.98.

Invesco Russell 1000 Equal Weight ETF Stock Performance

The company has a market capitalization of $812.82 million, a price-to-earnings ratio of 18.07 and a beta of 0.90. The company has a 50-day moving average price of $57.73 and a 200-day moving average price of $55.74.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in Invesco Russell 1000 Equal Weight ETF by 7.7% in the 1st quarter. Royal Bank of Canada now owns 6,764 shares of the company’s stock valued at $320,000 after acquiring an additional 484 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Invesco Russell 1000 Equal Weight ETF by 515.8% in the 1st quarter. Jones Financial Companies Lllp now owns 7,242 shares of the company’s stock valued at $342,000 after acquiring an additional 6,066 shares in the last quarter. Jane Street Group LLC bought a new stake in Invesco Russell 1000 Equal Weight ETF in the 1st quarter valued at approximately $418,000. Cetera Investment Advisers lifted its stake in Invesco Russell 1000 Equal Weight ETF by 19.7% in the 2nd quarter. Cetera Investment Advisers now owns 9,769 shares of the company’s stock valued at $481,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Invesco Russell 1000 Equal Weight ETF by 1.5% in the 2nd quarter. Cerity Partners LLC now owns 23,940 shares of the company’s stock valued at $1,179,000 after acquiring an additional 355 shares in the last quarter.

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.