Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Reaches New 12-Month High – Time to Buy?

Shares of Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.71 and last traded at $56.60, with a volume of 132064 shares trading hands. The stock had previously closed at $56.40.

Invesco Russell 1000 Equal Weight ETF Stock Down 1.2%

The company has a market cap of $733.54 million, a P/E ratio of 18.07 and a beta of 1.00. The firm’s 50 day moving average is $54.19 and its two-hundred day moving average is $52.46.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

Hedge funds have recently made changes to their positions in the stock. Strategic Wealth Advisors LLC bought a new stake in Invesco Russell 1000 Equal Weight ETF in the fourth quarter valued at approximately $45,000. Lodestone Wealth Management LLC bought a new position in Invesco Russell 1000 Equal Weight ETF during the 4th quarter worth approximately $81,000. Harbour Investments Inc. lifted its position in shares of Invesco Russell 1000 Equal Weight ETF by 9.9% in the 2nd quarter. Harbour Investments Inc. now owns 3,151 shares of the company’s stock worth $155,000 after purchasing an additional 285 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Invesco Russell 1000 Equal Weight ETF by 15.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,818 shares of the company’s stock valued at $198,000 after purchasing an additional 501 shares during the last quarter. Finally, Fiduciary Financial Group LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF in the 3rd quarter valued at $203,000.

Invesco Russell 1000 Equal Weight ETF Company Profile

The Invesco Russell 1000 Equal Weight ETF (EQAL) is an exchange-traded fund that is based on the Russell 1000 Equal Weight index. The fund tracks an index of the 1,000 largest US stocks. Each sector receives equal weight, and each stock within a sector receives equal weight. EQAL was launched on Dec 23, 2014 and is managed by Invesco.