Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Reaches New 12-Month High – Time to Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $89.93 and last traded at $88.27, with a volume of 3963323 shares changing hands. The stock had previously closed at $88.67.

Invesco S&P 500 Quality ETF Price Performance

The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 25.36 and a beta of 0.91. The company’s fifty day moving average price is $82.84 and its 200-day moving average price is $79.09.

Hedge Funds Weigh In On Invesco S&P 500 Quality ETF

Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in Invesco S&P 500 Quality ETF by 68.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock worth $658,846,000 after buying an additional 3,741,699 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its position in Invesco S&P 500 Quality ETF by 5.9% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 8,910,347 shares of the company’s stock worth $668,722,000 after buying an additional 496,439 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Invesco S&P 500 Quality ETF by 3.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,915,919 shares of the company’s stock worth $611,604,000 after buying an additional 253,950 shares during the last quarter. Bank of America Corp DE raised its position in Invesco S&P 500 Quality ETF by 8.0% during the 3rd quarter. Bank of America Corp DE now owns 4,710,108 shares of the company’s stock worth $345,204,000 after buying an additional 349,166 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Invesco S&P 500 Quality ETF by 15.6% during the 3rd quarter. Raymond James Financial Inc. now owns 4,473,245 shares of the company’s stock worth $327,844,000 after buying an additional 603,848 shares during the last quarter.

Invesco S&P 500 Quality ETF Company Profile

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.