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

Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $131.60 and last traded at $131.60, with a volume of 13593 shares changing hands. The stock had previously closed at $130.15.

Invesco S&P 100 Equal Weight ETF Stock Up 1.0%

The company has a fifty day moving average price of $128.47 and a 200-day moving average price of $123.13. The stock has a market capitalization of $2.74 billion, a P/E ratio of 20.16 and a beta of 0.89.

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

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