Invesco RAFI US 1000 ETF (NYSEARCA:PRF) Reaches New 1-Year High – Should You Buy?

Invesco RAFI US 1000 ETF (NYSEARCA:PRF)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.67 and last traded at $47.60, with a volume of 33348 shares. The stock had previously closed at $47.31.

Invesco RAFI US 1000 ETF Stock Performance

The company’s 50 day moving average is $46.42 and its 200 day moving average is $44.73. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 17.96 and a beta of 0.92.

Institutional Investors Weigh In On Invesco RAFI US 1000 ETF

Several hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new position in Invesco RAFI US 1000 ETF during the third quarter valued at about $35,000. Russell Investments Group Ltd. increased its position in shares of Invesco RAFI US 1000 ETF by 114.1% during the third quarter. Russell Investments Group Ltd. now owns 835 shares of the company’s stock valued at $38,000 after purchasing an additional 445 shares during the period. UMB Bank n.a. raised its stake in shares of Invesco RAFI US 1000 ETF by 34.5% in the second quarter. UMB Bank n.a. now owns 1,002 shares of the company’s stock valued at $42,000 after purchasing an additional 257 shares in the last quarter. Palisade Asset Management LLC bought a new position in Invesco RAFI US 1000 ETF in the third quarter worth $52,000. Finally, Financial Consulate Inc. bought a new position in Invesco RAFI US 1000 ETF in the third quarter worth $57,000.

About Invesco RAFI US 1000 ETF

The Invesco FTSE RAFI US 1000 ETF (PRF) is an exchange-traded fund that is based on the FTSE RAFI US 1000 index. The fund tracks an index of 1,000 of the largest US companies that are selected and weighted using fundamental metrics. PRF was launched on Dec 19, 2005 and is managed by Invesco.