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

ALPS Equal Sector Weight ETF (NYSEARCA:EQL) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $48.06 and last traded at $48.0250, with a volume of 29546 shares. The stock had previously closed at $47.79.

ALPS Equal Sector Weight ETF Trading Up 0.1%

The firm has a market cap of $625.23 million, a P/E ratio of 22.84 and a beta of 0.91. The business’s fifty day simple moving average is $46.67 and its 200-day simple moving average is $45.79.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Gateway Wealth Partners LLC grew its position in shares of ALPS Equal Sector Weight ETF by 160.7% during the 2nd quarter. Gateway Wealth Partners LLC now owns 54,669 shares of the company’s stock valued at $2,397,000 after purchasing an additional 33,698 shares in the last quarter. PUREfi Wealth LLC boosted its stake in ALPS Equal Sector Weight ETF by 78.9% during the second quarter. PUREfi Wealth LLC now owns 19,876 shares of the company’s stock valued at $871,000 after buying an additional 8,767 shares during the period. Osaic Holdings Inc. grew its position in ALPS Equal Sector Weight ETF by 76.9% during the second quarter. Osaic Holdings Inc. now owns 47,400 shares of the company’s stock worth $2,078,000 after buying an additional 20,605 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in ALPS Equal Sector Weight ETF by 171.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 27,985 shares of the company’s stock worth $1,227,000 after acquiring an additional 17,675 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in ALPS Equal Sector Weight ETF by 1,350.6% in the 2nd quarter. AE Wealth Management LLC now owns 8,965 shares of the company’s stock worth $393,000 after acquiring an additional 8,347 shares during the last quarter.

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.