Invesco S&P Ultra Dividend Revenue ETF (NYSEARCA:RDIV) Hits New 52-Week High – Here’s Why

Invesco S&P Ultra Dividend Revenue ETF (NYSEARCA:RDIV) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $58.92 and last traded at $58.92, with a volume of 2554 shares traded. The stock had previously closed at $58.39.

Invesco S&P Ultra Dividend Revenue ETF Stock Performance

The company has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $55.19. The firm has a market cap of $1.02 billion, a PE ratio of 11.29 and a beta of 0.77.

Hedge Funds Weigh In On Invesco S&P Ultra Dividend Revenue ETF

Several hedge funds and other institutional investors have recently bought and sold shares of RDIV. Tactive Advisors LLC purchased a new position in Invesco S&P Ultra Dividend Revenue ETF during the 4th quarter worth approximately $6,684,000. LPL Financial LLC increased its stake in shares of Invesco S&P Ultra Dividend Revenue ETF by 7.5% in the fourth quarter. LPL Financial LLC now owns 683,779 shares of the company’s stock worth $35,584,000 after acquiring an additional 47,484 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Invesco S&P Ultra Dividend Revenue ETF by 61.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 113,908 shares of the company’s stock worth $5,928,000 after purchasing an additional 43,324 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Invesco S&P Ultra Dividend Revenue ETF by 10.9% during the fourth quarter. Wells Fargo & Company MN now owns 407,745 shares of the company’s stock worth $21,219,000 after purchasing an additional 40,199 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Invesco S&P Ultra Dividend Revenue ETF by 108.2% during the first quarter. Janney Montgomery Scott LLC now owns 63,520 shares of the company’s stock valued at $3,536,000 after purchasing an additional 33,006 shares during the period.

About Invesco S&P Ultra Dividend Revenue ETF

The Invesco S&P Ultra Dividend Revenue ETF (RDIV) is an exchange-traded fund that is based on the S&P 900 Dividend Revenue-Weighted index. The fund selects the 60-highest-yielding stocks from the S&P 900 and weights them by revenue. RDIV was launched on Oct 1, 2013 and is managed by Invesco.