ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Hits New 1-Year High – Time to Buy?

ALPS Equal Sector Weight ETF (NYSEARCA:EQL)’s share price hit a new 52-week high on Wednesday . The company traded as high as $49.83 and last traded at $49.50, with a volume of 2698 shares traded. The stock had previously closed at $49.68.

ALPS Equal Sector Weight ETF Price Performance

The business’s fifty day moving average price is $47.87 and its 200 day moving average price is $46.50. The stock has a market cap of $642.53 million, a P/E ratio of 22.84 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in shares of ALPS Equal Sector Weight ETF by 3.1% in the third quarter. Bank of America Corp DE now owns 1,469,010 shares of the company’s stock valued at $67,619,000 after buying an additional 44,753 shares during the period. Raymond James Financial Inc. lifted its position in shares of ALPS Equal Sector Weight ETF by 205.9% in the 2nd quarter. Raymond James Financial Inc. now owns 922,171 shares of the company’s stock worth $40,434,000 after purchasing an additional 620,663 shares during the period. Ameriprise Financial Inc. increased its position in shares of ALPS Equal Sector Weight ETF by 135.6% during the second quarter. Ameriprise Financial Inc. now owns 397,308 shares of the company’s stock worth $17,426,000 after buying an additional 228,690 shares during the period. LPL Financial LLC raised its stake in ALPS Equal Sector Weight ETF by 5.3% during the fourth quarter. LPL Financial LLC now owns 307,778 shares of the company’s stock worth $14,275,000 after buying an additional 15,574 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in ALPS Equal Sector Weight ETF by 198.1% during the second quarter. Cetera Investment Advisers now owns 238,109 shares of the company’s stock valued at $10,440,000 after acquiring an additional 158,230 shares during the last quarter.

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.