Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Stock Falls 0.6% – Here’s What Happened

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s share price fell 0.6% on Wednesday. The company traded as low as $57.27 and last traded at $57.27. Approximately 23,363 shares traded hands during trading, a decline of 54% from the average daily volume of 50,359 shares. The stock had previously closed at $57.59.

Invesco Russell 1000 Equal Weight ETF Stock Down 0.6%

The stock has a market capitalization of $792.04 million, a PE ratio of 18.07 and a beta of 0.90. The stock has a fifty day moving average of $60.15 and a 200-day moving average of $58.58.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

A number of institutional investors and hedge funds have recently made changes to their positions in EQAL. Bank of America Corp DE increased its stake in shares of Invesco Russell 1000 Equal Weight ETF by 53.9% during the first quarter. Bank of America Corp DE now owns 398,926 shares of the company’s stock worth $21,981,000 after buying an additional 139,631 shares during the period. Geneos Wealth Management Inc. grew its holdings in Invesco Russell 1000 Equal Weight ETF by 24.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 104,087 shares of the company’s stock worth $5,735,000 after acquiring an additional 20,722 shares in the last quarter. Empowered Funds LLC grew its holdings in Invesco Russell 1000 Equal Weight ETF by 309.8% during the 1st quarter. Empowered Funds LLC now owns 50,514 shares of the company’s stock worth $2,783,000 after acquiring an additional 38,189 shares in the last quarter. Lunt Capital Management Inc. increased its position in shares of Invesco Russell 1000 Equal Weight ETF by 3.6% in the 2nd quarter. Lunt Capital Management Inc. now owns 48,007 shares of the company’s stock valued at $2,845,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Invesco Russell 1000 Equal Weight ETF by 8.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 45,280 shares of the company’s stock valued at $2,683,000 after purchasing an additional 3,421 shares during the last quarter.

Invesco Russell 1000 Equal Weight ETF Company Profile

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.