Invesco Russell 1000 Dynamic Multifactor ETF (BATS:OMFL) Sets New 52-Week High – Still a Buy?

Invesco Russell 1000 Dynamic Multifactor ETF (BATS:OMFL)’s stock price reached a new 52-week high on Friday. The stock traded as high as $71.54 and last traded at $71.4960, with a volume of 177067 shares trading hands. The stock had previously closed at $71.03.

Invesco Russell 1000 Dynamic Multifactor ETF Stock Up 0.6%

The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 27.32 and a beta of 1.02. The business has a 50 day moving average price of $70.43 and a 200-day moving average price of $67.85.

Institutional Investors Weigh In On Invesco Russell 1000 Dynamic Multifactor ETF

Several hedge funds and other institutional investors have recently bought and sold shares of OMFL. Bank of New York Mellon Corp boosted its stake in Invesco Russell 1000 Dynamic Multifactor ETF by 33.5% in the first quarter. Bank of New York Mellon Corp now owns 3,711,567 shares of the company’s stock valued at $223,139,000 after acquiring an additional 931,158 shares during the period. Citadel Advisors LLC acquired a new position in shares of Invesco Russell 1000 Dynamic Multifactor ETF during the second quarter valued at $56,909,000. Envestnet Asset Management Inc. increased its holdings in shares of Invesco Russell 1000 Dynamic Multifactor ETF by 136.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 798,161 shares of the company’s stock worth $54,706,000 after acquiring an additional 460,593 shares during the period. Curry Webb Wealth Management LLC bought a new position in Invesco Russell 1000 Dynamic Multifactor ETF in the 1st quarter worth about $16,619,000. Finally, MW Advisory LLC acquired a new stake in shares of Invesco Russell 1000 Dynamic Multifactor ETF in the second quarter valued at approximately $16,554,000.

About Invesco Russell 1000 Dynamic Multifactor ETF

The Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks an index of US large-cap stocks selected by a combination of five investment factors, which are weighted based on current macroeconomic conditions. OMFL was launched on Nov 8, 2017 and is managed by Invesco.