Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sees Strong Trading Volume – Time to Buy?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) shares saw unusually-strong trading volume on Wednesday . Approximately 103,799 shares changed hands during mid-day trading, an increase of 272% from the previous session’s volume of 27,898 shares.The stock last traded at $48.05 and had previously closed at $48.17.

Invesco Russell 1000 Equal Weight ETF Trading Down 1.5 %

The company has a market cap of $604.55 million, a price-to-earnings ratio of 18.50 and a beta of 1.12. The business has a 50-day moving average price of $49.08 and a 200 day moving average price of $49.17.

Invesco Russell 1000 Equal Weight ETF Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.2251 per share. The ex-dividend date is Monday, March 24th. This is a positive change from Invesco Russell 1000 Equal Weight ETF’s previous dividend of $0.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sykon Capital LLC acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF in the fourth quarter worth $5,451,000. Strategic Financial Concepts LLC bought a new position in Invesco Russell 1000 Equal Weight ETF in the 4th quarter worth $5,398,000. Miracle Mile Advisors LLC acquired a new stake in Invesco Russell 1000 Equal Weight ETF in the 4th quarter valued at approximately $4,143,000. Bank of America Corp DE increased its position in Invesco Russell 1000 Equal Weight ETF by 3.6% during the fourth quarter. Bank of America Corp DE now owns 626,197 shares of the company’s stock worth $30,245,000 after acquiring an additional 21,906 shares during the period. Finally, Shade Tree Advisors LLC bought a new position in shares of Invesco Russell 1000 Equal Weight ETF during the 4th quarter worth about $993,000.

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.