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

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $59.34 and last traded at $59.30, with a volume of 4827 shares. The stock had previously closed at $58.98.

Invesco Russell 1000 Equal Weight ETF Stock Performance

The firm’s 50-day moving average price is $57.81 and its 200 day moving average price is $55.77. The company has a market cap of $814.74 million, a price-to-earnings ratio of 18.07 and a beta of 0.90.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bingham Private Wealth LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the fourth quarter valued at approximately $2,380,000. Clark Asset Management LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the fourth quarter valued at approximately $1,273,000. UBS Group AG grew its holdings in Invesco Russell 1000 Equal Weight ETF by 38.4% during the fourth quarter. UBS Group AG now owns 77,545 shares of the company’s stock valued at $4,082,000 after purchasing an additional 21,498 shares during the period. Diversified Management Inc. acquired a new position in Invesco Russell 1000 Equal Weight ETF during the fourth quarter valued at approximately $984,000. Finally, Carroll Advisory Group LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the fourth quarter valued at approximately $1,620,000.

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.