Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Sets New 12-Month High – Should You Buy?

Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $135.82 and last traded at $135.82, with a volume of 23061 shares changing hands. The stock had previously closed at $134.31.

Invesco S&P 100 Equal Weight ETF Stock Performance

The firm has a 50-day moving average price of $130.71 and a two-hundred day moving average price of $124.76. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89.

Institutional Trading of Invesco S&P 100 Equal Weight ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQWL. Royal Bank of Canada lifted its position in shares of Invesco S&P 100 Equal Weight ETF by 16.7% during the 1st quarter. Royal Bank of Canada now owns 46,495 shares of the company’s stock worth $4,793,000 after buying an additional 6,664 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Invesco S&P 100 Equal Weight ETF by 20.7% in the 1st quarter. NewEdge Advisors LLC now owns 4,082 shares of the company’s stock valued at $421,000 after buying an additional 700 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Invesco S&P 100 Equal Weight ETF during the 1st quarter worth $872,000. Jane Street Group LLC raised its stake in Invesco S&P 100 Equal Weight ETF by 6.5% during the 1st quarter. Jane Street Group LLC now owns 7,594 shares of the company’s stock worth $783,000 after acquiring an additional 465 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Invesco S&P 100 Equal Weight ETF by 557.7% in the second quarter. JPMorgan Chase & Co. now owns 31,640 shares of the company’s stock valued at $3,479,000 after acquiring an additional 26,829 shares during the last quarter.

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.