Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Sets New 1-Year High – Should You Buy?

Shares of Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) hit a new 52-week high during trading on Thursday . The stock traded as high as $125.79 and last traded at $125.79, with a volume of 20627 shares. The stock had previously closed at $125.60.

Invesco S&P 100 Equal Weight ETF Trading Up 0.7%

The firm’s fifty day moving average price is $119.90 and its 200 day moving average price is $119.39. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89.

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

Several large investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new position in shares of Invesco S&P 100 Equal Weight ETF in the 1st quarter worth approximately $171,000. NewEdge Advisors LLC lifted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 2,484.1% in the 1st quarter. NewEdge Advisors LLC now owns 101,634 shares of the company’s stock worth $11,712,000 after acquiring an additional 97,701 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 8.8% in the 1st quarter. Bank of America Corp DE now owns 246,138 shares of the company’s stock worth $28,365,000 after acquiring an additional 19,959 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Invesco S&P 100 Equal Weight ETF by 2.6% during the 1st quarter. Arkadios Wealth Advisors now owns 14,122 shares of the company’s stock worth $1,627,000 after buying an additional 362 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Invesco S&P 100 Equal Weight ETF by 14.8% during the 1st quarter. Sunbelt Securities Inc. now owns 3,239 shares of the company’s stock worth $373,000 after buying an additional 418 shares in the last quarter.

Invesco S&P 100 Equal Weight ETF Company Profile

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.