Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Sets New 52-Week High – Should You Buy?

Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.69 and last traded at $40.6640, with a volume of 4539 shares changing hands. The stock had previously closed at $40.46.

Invesco S&P 500 QVM Multi-factor ETF Stock Up 0.6%

The company’s fifty day simple moving average is $39.98 and its two-hundred day simple moving average is $38.71. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 23.98 and a beta of 0.97.

Institutional Trading of Invesco S&P 500 QVM Multi-factor ETF

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in Invesco S&P 500 QVM Multi-factor ETF by 71.7% during the first quarter. Jane Street Group LLC now owns 21,660 shares of the company’s stock worth $726,000 after acquiring an additional 9,043 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Invesco S&P 500 QVM Multi-factor ETF by 64.0% in the second quarter. Axxcess Wealth Management LLC now owns 125,563 shares of the company’s stock worth $4,598,000 after acquiring an additional 49,018 shares in the last quarter. Private Trust Co. NA acquired a new stake in shares of Invesco S&P 500 QVM Multi-factor ETF during the second quarter worth about $44,000. Bank of America Corp DE raised its position in shares of Invesco S&P 500 QVM Multi-factor ETF by 42.4% during the second quarter. Bank of America Corp DE now owns 34,237 shares of the company’s stock worth $1,254,000 after purchasing an additional 10,191 shares during the period. Finally, RPg Family Wealth Advisory LLC lifted its holdings in shares of Invesco S&P 500 QVM Multi-factor ETF by 0.9% during the 3rd quarter. RPg Family Wealth Advisory LLC now owns 149,398 shares of the company’s stock valued at $5,868,000 after purchasing an additional 1,338 shares in the last quarter.

About Invesco S&P 500 QVM Multi-factor ETF

The Invesco S&P 500 QVM Multi-factor ETF (QVML) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a market-cap-weighted index that selects the top 90% of stocks in the S&P 500 based on three factors: quality, value, and momentum. QVML was launched on Jun 30, 2021 and is managed by Invesco.