Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Sets New 52-Week High – Should You Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.70 and last traded at $76.67, with a volume of 348780 shares trading hands. The stock had previously closed at $76.25.

Invesco S&P 500 Quality ETF Trading Up 1.0%

The company has a 50-day moving average price of $74.56 and a two-hundred day moving average price of $73.14. The stock has a market cap of $15.58 billion, a P/E ratio of 25.36 and a beta of 0.92.

Institutional Trading of Invesco S&P 500 Quality ETF

Several institutional investors and hedge funds have recently made changes to their positions in SPHQ. Berkshire Money Management Inc. bought a new position in shares of Invesco S&P 500 Quality ETF during the second quarter valued at approximately $28,000. Independence Bank of Kentucky purchased a new position in shares of Invesco S&P 500 Quality ETF during the 2nd quarter valued at about $33,000. Ancora Advisors LLC acquired a new stake in Invesco S&P 500 Quality ETF during the third quarter valued at $35,000. Dunhill Financial LLC increased its stake in shares of Invesco S&P 500 Quality ETF by 10,060.0% in the 3rd quarter. Dunhill Financial LLC now owns 508 shares of the company’s stock valued at $37,000 after purchasing an additional 503 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new stake in shares of Invesco S&P 500 Quality ETF in the third quarter valued at approximately $37,000.

About Invesco S&P 500 Quality ETF

The Invesco S&P 500 Quality ETF (SPHQ) is an exchange-traded fund that is based on the S&P 500 Quality index. The fund tracks an index of US large-cap stocks selected by return on equity, changes in net operating assets and financial leverage. Stocks are weighted by these quality factors, scaled by market cap. SPHQ was launched on Dec 6, 2005 and is managed by Invesco.