ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Reaches New 52-Week High – Still a Buy?

Shares of ALPS Equal Sector Weight ETF (NYSEARCA:EQL) hit a new 52-week high during trading on Wednesday . The company traded as high as $49.83 and last traded at $49.50, with a volume of 2698 shares traded. The stock had previously closed at $49.68.

ALPS Equal Sector Weight ETF Stock Down 0.3%

The business has a fifty day simple moving average of $48.00 and a two-hundred day simple moving average of $46.55. The company has a market capitalization of $641.62 million, a price-to-earnings ratio of 22.84 and a beta of 0.91.

Institutional Trading of ALPS Equal Sector Weight ETF

Several hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of ALPS Equal Sector Weight ETF during the 3rd quarter worth approximately $29,000. BOK Financial Private Wealth Inc. lifted its position in ALPS Equal Sector Weight ETF by 200.0% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 1,200 shares of the company’s stock worth $53,000 after buying an additional 800 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in ALPS Equal Sector Weight ETF by 160.6% during the second quarter. Smartleaf Asset Management LLC now owns 1,308 shares of the company’s stock valued at $57,000 after purchasing an additional 806 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in ALPS Equal Sector Weight ETF during the fourth quarter worth $79,000. Finally, MAI Capital Management raised its holdings in shares of ALPS Equal Sector Weight ETF by 200.0% in the 2nd quarter. MAI Capital Management now owns 1,773 shares of the company’s stock valued at $78,000 after purchasing an additional 1,182 shares during the period.

ALPS Equal Sector Weight ETF Company Profile

The ALPS Equal Sector Weight ETF (EQL) is an exchange-traded fund that is based on the NYSE Select Sector Equal Weight index. The fund tracks an equal-weighted index of all select sector SPDR ETFs. EQL was launched on Jul 7, 2009 and is managed by ALPS.