Invesco RAFI US 1000 ETF (NYSEARCA:PRF) Hits New 1-Year High – Time to Buy?

Invesco RAFI US 1000 ETF (NYSEARCA:PRF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.49 and last traded at $46.49, with a volume of 13733 shares traded. The stock had previously closed at $46.25.

Invesco RAFI US 1000 ETF Stock Up 0.5%

The business’s 50 day moving average is $45.40 and its 200-day moving average is $43.53. The firm has a market capitalization of $8.43 billion, a P/E ratio of 17.96 and a beta of 0.92.

Institutional Investors Weigh In On Invesco RAFI US 1000 ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Invesco RAFI US 1000 ETF by 3.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 24,407,637 shares of the company’s stock worth $986,313,000 after purchasing an additional 887,580 shares in the last quarter. Bank of America Corp DE increased its position in Invesco RAFI US 1000 ETF by 1.6% in the 2nd quarter. Bank of America Corp DE now owns 11,565,365 shares of the company’s stock valued at $488,868,000 after acquiring an additional 184,757 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Invesco RAFI US 1000 ETF by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 7,343,268 shares of the company’s stock valued at $310,447,000 after acquiring an additional 332,315 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Invesco RAFI US 1000 ETF by 0.3% during the first quarter. PNC Financial Services Group Inc. now owns 5,273,261 shares of the company’s stock worth $213,092,000 after purchasing an additional 16,056 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Invesco RAFI US 1000 ETF by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,719,038 shares of the company’s stock worth $199,474,000 after purchasing an additional 16,804 shares during the last quarter.

About Invesco RAFI US 1000 ETF

The Invesco FTSE RAFI US 1000 ETF (PRF) is an exchange-traded fund that is based on the FTSE RAFI US 1000 index. The fund tracks an index of 1,000 of the largest US companies that are selected and weighted using fundamental metrics. PRF was launched on Dec 19, 2005 and is managed by Invesco.