Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Trading Down 1.2% – What’s Next?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) shares were down 1.2% on Wednesday . The stock traded as low as $59.96 and last traded at $59.97. Approximately 29,460 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 50,683 shares. The stock had previously closed at $60.67.

Invesco Russell 1000 Equal Weight ETF Stock Down 1.2%

The firm has a market cap of $824.59 million, a PE ratio of 18.07 and a beta of 0.90. The stock has a 50 day moving average price of $60.29 and a two-hundred day moving average price of $58.37.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Lunt Capital Management Inc. raised its position in Invesco Russell 1000 Equal Weight ETF by 3.6% during the 2nd quarter. Lunt Capital Management Inc. now owns 48,007 shares of the company’s stock worth $2,845,000 after buying an additional 1,684 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Invesco Russell 1000 Equal Weight ETF by 13.1% in the second quarter. NewEdge Advisors LLC now owns 22,507 shares of the company’s stock valued at $1,334,000 after buying an additional 2,610 shares in the last quarter. Allworth Financial LP acquired a new position in Invesco Russell 1000 Equal Weight ETF in the 2nd quarter worth about $166,000. Breakwater Capital Group raised its stake in shares of Invesco Russell 1000 Equal Weight ETF by 13.0% during the 2nd quarter. Breakwater Capital Group now owns 18,538 shares of the company’s stock worth $1,098,000 after buying an additional 2,130 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the second quarter worth $208,000.

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.