Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Hits New 1-Year High – Time to Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $85.83 and last traded at $85.62, with a volume of 1255279 shares traded. The stock had previously closed at $84.64.

Invesco S&P 500 Quality ETF Trading Up 1.2%

The business has a fifty day simple moving average of $79.45 and a two-hundred day simple moving average of $77.64. The company has a market cap of $18.22 billion, a PE ratio of 25.36 and a beta of 0.91.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in Invesco S&P 500 Quality ETF by 68.0% during the second quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock worth $658,846,000 after acquiring an additional 3,741,699 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC boosted its position in Invesco S&P 500 Quality ETF by 5.9% during the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 8,910,347 shares of the company’s stock worth $668,722,000 after acquiring an additional 496,439 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Invesco S&P 500 Quality ETF by 3.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,915,919 shares of the company’s stock worth $611,604,000 after acquiring an additional 253,950 shares during the last quarter. Bank of America Corp DE boosted its position in Invesco S&P 500 Quality ETF by 8.0% during the third quarter. Bank of America Corp DE now owns 4,710,108 shares of the company’s stock worth $345,204,000 after acquiring an additional 349,166 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in Invesco S&P 500 Quality ETF by 15.6% during the third quarter. Raymond James Financial Inc. now owns 4,473,245 shares of the company’s stock worth $327,844,000 after acquiring an additional 603,848 shares during the last quarter.

About Invesco S&P 500 Quality ETF

The Invesco S&P 500 Quality ETF (SPHQ) is an exchange-traded fund that is based on the S&P 500 Quality index. The fund tracks an index of US large-cap stocks selected by return on equity, changes in net operating assets and financial leverage. Stocks are weighted by these quality factors, scaled by market cap. SPHQ was launched on Dec 6, 2005 and is managed by Invesco.