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

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) reached 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 trading hands. The stock had previously closed at $58.98.

Invesco Russell 1000 Equal Weight ETF Trading Up 0.6%

The stock has a market cap of $812.82 million, a P/E ratio of 18.07 and a beta of 0.90. The company has a 50 day simple moving average of $57.73 and a 200 day simple moving average of $55.74.

Institutional Investors Weigh In On Invesco Russell 1000 Equal Weight ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Wealth Advisors LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the 4th quarter worth approximately $45,000. Lodestone Wealth Management LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the 4th quarter worth approximately $81,000. Jones Financial Companies Lllp raised its stake in shares of Invesco Russell 1000 Equal Weight ETF by 15.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,818 shares of the company’s stock worth $198,000 after purchasing an additional 501 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the 2nd quarter worth approximately $203,000. Finally, Harbour Investments Inc. raised its stake in shares of Invesco Russell 1000 Equal Weight ETF by 30.2% during the 4th quarter. Harbour Investments Inc. now owns 3,956 shares of the company’s stock worth $208,000 after purchasing an additional 917 shares in the last quarter.

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.