Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Reaches New 12-Month High – Here’s Why

Shares of Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) hit a new 52-week high on Monday . The stock traded as high as $119.74 and last traded at $119.6760, with a volume of 38092 shares trading hands. The stock had previously closed at $118.43.

Invesco S&P 100 Equal Weight ETF Stock Up 0.8%

The firm’s fifty day moving average price is $117.10 and its 200-day moving average price is $114.04. The stock has a market cap of $2.01 billion, a P/E ratio of 20.16 and a beta of 0.95.

Hedge Funds Weigh In On Invesco S&P 100 Equal Weight ETF

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 16.7% during the first quarter. Royal Bank of Canada now owns 46,495 shares of the company’s stock worth $4,793,000 after purchasing an additional 6,664 shares during the period. NewEdge Advisors LLC raised its position in Invesco S&P 100 Equal Weight ETF by 20.7% during the 1st quarter. NewEdge Advisors LLC now owns 4,082 shares of the company’s stock valued at $421,000 after purchasing an additional 700 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Invesco S&P 100 Equal Weight ETF by 110.4% in the 1st quarter. Jones Financial Companies Lllp now owns 110,122 shares of the company’s stock worth $11,352,000 after buying an additional 57,790 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Invesco S&P 100 Equal Weight ETF during the first quarter valued at approximately $872,000. Finally, Signature Estate & Investment Advisors LLC increased its stake in shares of Invesco S&P 100 Equal Weight ETF by 41.2% during the first quarter. Signature Estate & Investment Advisors LLC now owns 26,031 shares of the company’s stock valued at $2,684,000 after buying an additional 7,592 shares during the period.

About Invesco S&P 100 Equal Weight ETF

PowerShares Fundamental Pure Large Core Portfolio (the Fund), formerly PowerShares Dynamic Large Cap Portfolio, is based on the RAFI Fundamental Large Core Index (Index). The Fund will invest at least 90% of its total assets in the securities that comprise the Index. The Index is consisted of common stocks of large core United States companies, including real estate investment trusts (REITs), from a universe consisted of the 2,500 largest United States companies. The Fund invests in sectors, such as consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, telecommunication services and utilities.