Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Stock Price Down 1.2% – What’s Next?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) shares were down 1.2% on Wednesday . The company traded as low as $59.96 and last traded at $59.97. 29,460 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 50,683 shares. The stock had previously closed at $60.67.

Invesco Russell 1000 Equal Weight ETF Stock Down 1.2%

The company has a market cap of $824.59 million, a PE ratio of 18.07 and a beta of 0.90. The stock has a 50-day moving average of $60.29 and a 200-day moving average of $58.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sykon Capital LLC purchased a new position in Invesco Russell 1000 Equal Weight ETF during the 3rd quarter valued at about $13,402,000. Bank of America Corp DE lifted its stake in shares of Invesco Russell 1000 Equal Weight ETF by 53.9% in 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 in the last quarter. Empowered Funds LLC boosted its position in shares of Invesco Russell 1000 Equal Weight ETF by 309.8% during the first quarter. Empowered Funds LLC now owns 50,514 shares of the company’s stock valued at $2,783,000 after buying an additional 38,189 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Invesco Russell 1000 Equal Weight ETF in the 1st quarter worth approximately $1,856,000. Finally, Carroll Advisory Group LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the 4th quarter valued at about $1,620,000.

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.