Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Sets New 52-Week High – Time to Buy?

Shares of Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $134.12 and last traded at $134.12, with a volume of 12585 shares. The stock had previously closed at $133.93.

Invesco S&P 100 Equal Weight ETF Stock Performance

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89. The company’s 50 day moving average is $129.39 and its 200 day moving average is $123.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Reicon Wealth Advisors LLC acquired a new stake in shares of Invesco S&P 100 Equal Weight ETF during the 4th quarter worth approximately $29,682,000. Thrivent Financial for Lutherans bought a new stake in shares of Invesco S&P 100 Equal Weight ETF during the fourth quarter valued at approximately $21,877,000. Ameriprise Financial Inc. raised its stake in shares of Invesco S&P 100 Equal Weight ETF by 60.1% in the second quarter. Ameriprise Financial Inc. now owns 444,410 shares of the company’s stock valued at $48,864,000 after purchasing an additional 166,901 shares in the last quarter. LPL Financial LLC raised its stake in shares of Invesco S&P 100 Equal Weight ETF by 9.7% in the fourth quarter. LPL Financial LLC now owns 1,765,365 shares of the company’s stock valued at $208,596,000 after purchasing an additional 156,725 shares in the last quarter. Finally, RFP Financial Group LLC raised its stake in shares of Invesco S&P 100 Equal Weight ETF by 32.0% in the fourth quarter. RFP Financial Group LLC now owns 458,426 shares of the company’s stock valued at $54,167,000 after purchasing an additional 111,115 shares in the last quarter.

Invesco S&P 100 Equal Weight ETF Company Profile

PowerShares Fundamental Pure Large Core Portfolio (the Fund), formerly PowerShares Dynamic Large Cap Portfolio, is based on the RAFI Fundamental Large Core Index (Index). The Fund will invest at least 90% of its total assets in the securities that comprise the Index. The Index is consisted of common stocks of large core United States companies, including real estate investment trusts (REITs), from a universe consisted of the 2,500 largest United States companies. The Fund invests in sectors, such as consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, telecommunication services and utilities.