Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Reaches New 1-Year High – What’s Next?

Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $38.26 and last traded at $38.22, with a volume of 651 shares changing hands. The stock had previously closed at $37.65.

Invesco S&P 500 QVM Multi-factor ETF Stock Performance

The firm’s 50-day moving average is $36.96 and its 200 day moving average is $35.01. The stock has a market cap of $1.36 billion, a PE ratio of 23.98 and a beta of 0.98.

Hedge Funds Weigh In On Invesco S&P 500 QVM Multi-factor ETF

A number of large investors have recently bought and sold shares of QVML. Municipal Employees Retirement System of Michigan raised its position in Invesco S&P 500 QVM Multi-factor ETF by 12.4% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 34,132,010 shares of the company’s stock worth $1,143,317,000 after buying an additional 3,758,630 shares during the last quarter. Colonial River Investments LLC purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF in the 1st quarter valued at about $3,085,000. Axxcess Wealth Management LLC purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF in the 1st quarter valued at about $2,564,000. ArborFi Advisors LLC purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF in the 1st quarter valued at about $363,000. Finally, Bank of America Corp DE increased its holdings in shares of Invesco S&P 500 QVM Multi-factor ETF by 42.4% in the 2nd quarter. Bank of America Corp DE now owns 34,237 shares of the company’s stock valued at $1,254,000 after purchasing an additional 10,191 shares in the last quarter.

About Invesco S&P 500 QVM Multi-factor ETF

The Invesco S&P 500 QVM Multi-factor ETF (QVML) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a market-cap-weighted index that selects the top 90% of stocks in the S&P 500 based on three factors: quality, value, and momentum. QVML was launched on Jun 30, 2021 and is managed by Invesco.