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

Shares of ALPS Equal Sector Weight ETF (NYSEARCA:EQL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $47.56 and last traded at $47.56, with a volume of 41597 shares. The stock had previously closed at $47.47.

ALPS Equal Sector Weight ETF Price Performance

The firm’s 50-day moving average is $46.33 and its 200-day moving average is $45.59. The company has a market capitalization of $596.88 million, a P/E ratio of 22.84 and a beta of 0.91.

Institutional Trading of ALPS Equal Sector Weight ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of ALPS Equal Sector Weight ETF by 239.8% in the second quarter. Bank of America Corp DE now owns 1,424,257 shares of the company’s stock worth $62,448,000 after buying an additional 1,005,111 shares during the period. Raymond James Financial Inc. grew its stake in shares of ALPS Equal Sector Weight ETF by 205.9% during the 2nd quarter. Raymond James Financial Inc. now owns 922,171 shares of the company’s stock valued at $40,434,000 after acquiring an additional 620,663 shares during the period. Ameriprise Financial Inc. increased its holdings in ALPS Equal Sector Weight ETF by 135.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 397,308 shares of the company’s stock worth $17,426,000 after acquiring an additional 228,690 shares in the last quarter. Cetera Investment Advisers raised its stake in ALPS Equal Sector Weight ETF by 198.1% during the 2nd quarter. Cetera Investment Advisers now owns 238,109 shares of the company’s stock worth $10,440,000 after acquiring an additional 158,230 shares during the period. Finally, CWM LLC bought a new stake in ALPS Equal Sector Weight ETF during the 3rd quarter worth approximately $5,403,000.

About ALPS Equal Sector Weight ETF

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.