Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Reaches New 1-Year High – Still a Buy?

Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL)’s share price hit a new 52-week high 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 Trading Up 0.9%

The firm has a fifty day simple moving average of $130.37 and a 200-day simple moving average of $124.57. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89.

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

Several large investors have recently made changes to their positions in EQWL. Pittenger & Anderson Inc. acquired a new stake in Invesco S&P 100 Equal Weight ETF in the fourth quarter worth about $30,000. Sound Income Strategies LLC bought a new stake in Invesco S&P 100 Equal Weight ETF during the 1st quarter worth about $44,000. Wells Fargo & Company MN lifted its position in Invesco S&P 100 Equal Weight ETF by 50,100.0% during the 4th quarter. Wells Fargo & Company MN now owns 502 shares of the company’s stock valued at $59,000 after purchasing an additional 501 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Invesco S&P 100 Equal Weight ETF in the 1st quarter valued at about $87,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Invesco S&P 100 Equal Weight ETF in the 3rd quarter valued at about $95,000.

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.