Invesco S&P 500 Revenue ETF (NYSEARCA:RWL) Sets New 1-Year High – Still a Buy?

Invesco S&P 500 Revenue ETF (NYSEARCA:RWL)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $130.09 and last traded at $129.39, with a volume of 18913 shares trading hands. The stock had previously closed at $128.48.

Invesco S&P 500 Revenue ETF Price Performance

The firm has a fifty day moving average of $126.18 and a two-hundred day moving average of $120.70. The stock has a market capitalization of $9.32 billion, a P/E ratio of 18.14 and a beta of 0.85.

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

A number of large investors have recently bought and sold shares of RWL. CX Institutional purchased a new stake in shares of Invesco S&P 500 Revenue ETF during the second quarter valued at about $11,651,000. MTM Financial Group LLC raised its stake in shares of Invesco S&P 500 Revenue ETF by 14.2% during the 1st quarter. MTM Financial Group LLC now owns 21,649 shares of the company’s stock worth $2,488,000 after acquiring an additional 2,690 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Invesco S&P 500 Revenue ETF by 253.5% during the 1st quarter. NewEdge Advisors LLC now owns 128,084 shares of the company’s stock worth $14,718,000 after acquiring an additional 91,854 shares in the last quarter. Bank of America Corp DE lifted its position in Invesco S&P 500 Revenue ETF by 0.3% during the first quarter. Bank of America Corp DE now owns 2,194,937 shares of the company’s stock valued at $252,220,000 after acquiring an additional 5,552 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Invesco S&P 500 Revenue ETF by 384.3% during the first quarter. Arkadios Wealth Advisors now owns 13,890 shares of the company’s stock valued at $1,596,000 after acquiring an additional 11,022 shares during the last quarter.

About Invesco S&P 500 Revenue ETF

RevenueShares Large Cap ETF (the Fund) seeks to achieve its investment objective of outperforming the total return performance of the S&P 500 Index (S&P 500) by investing in the constituent securities of the S&P 500 in the same proportions as the RevenueShares Large Cap Index. The Fund consists of the same constituent securities as the S&P 500. But rather than being weighted by market capitalization, the Fund employs a patent-pending investment methodology to weight stocks by annual revenue. The Fund is rebalanced annually.