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

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.03 and last traded at $62.03, with a volume of 3601 shares trading hands. The stock had previously closed at $61.10.

Invesco Russell 1000 Equal Weight ETF Trading Up 1.2%

The business has a 50 day moving average price of $59.52 and a 200-day moving average price of $57.79. The firm has a market capitalization of $850.58 million, a PE ratio of 18.07 and a beta of 0.90.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

A number of institutional investors have recently modified their holdings of EQAL. Royal Bank of Canada grew its holdings in Invesco Russell 1000 Equal Weight ETF by 7.7% in the first quarter. Royal Bank of Canada now owns 6,764 shares of the company’s stock valued at $320,000 after purchasing an additional 484 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 515.8% during the 1st quarter. Jones Financial Companies Lllp now owns 7,242 shares of the company’s stock worth $342,000 after buying an additional 6,066 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Invesco Russell 1000 Equal Weight ETF in the 1st quarter worth $418,000. Cetera Investment Advisers raised its position in shares of 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 worth $481,000 after buying an additional 1,605 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Invesco Russell 1000 Equal Weight ETF by 1.5% in the second 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 during 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.