Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sets New 12-Month High – Here’s Why

Shares of Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $55.23 and last traded at $55.1160, with a volume of 38244 shares traded. The stock had previously closed at $54.35.

Invesco Russell 1000 Equal Weight ETF Stock Performance

The firm has a market cap of $719.32 million, a price-to-earnings ratio of 18.07 and a beta of 1.00. The company has a 50 day moving average price of $52.94 and a 200 day moving average price of $51.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQAL. Sykon Capital LLC purchased a new position in Invesco Russell 1000 Equal Weight ETF during the third quarter worth about $13,402,000. Arkadios Wealth Advisors acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF in the 2nd quarter worth approximately $2,333,000. Thrivent Financial for Lutherans acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF in the 3rd quarter worth approximately $2,192,000. Lunt Capital Management Inc. boosted its position in shares of Invesco Russell 1000 Equal Weight ETF by 235.6% during the 2nd quarter. Lunt Capital Management Inc. now owns 46,323 shares of the company’s stock worth $2,281,000 after purchasing an additional 32,521 shares during the period. Finally, Friedenthal Financial increased its holdings in Invesco Russell 1000 Equal Weight ETF by 187.1% in the 2nd quarter. Friedenthal Financial now owns 46,037 shares of the company’s stock valued at $2,267,000 after purchasing an additional 30,000 shares during the last quarter.

About Invesco Russell 1000 Equal Weight ETF

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.