Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Hits New 1-Year High – Here’s Why

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $61.05 and last traded at $60.93, with a volume of 2489 shares. The stock had previously closed at $61.00.

Invesco Russell 1000 Equal Weight ETF Stock Performance

The stock’s fifty day simple moving average is $59.19 and its two-hundred day simple moving average is $57.53. The company has a market capitalization of $842.19 million, a price-to-earnings ratio of 18.07 and a beta of 0.90.

Institutional Investors Weigh In On Invesco Russell 1000 Equal Weight ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Invesco Russell 1000 Equal Weight ETF by 53.9% during the 1st quarter. Bank of America Corp DE now owns 398,926 shares of the company’s stock worth $21,981,000 after buying an additional 139,631 shares during the period. Sykon Capital LLC acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF in the third quarter worth about $13,402,000. Geneos Wealth Management Inc. boosted its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 24.9% in the first quarter. Geneos Wealth Management Inc. now owns 104,087 shares of the company’s stock worth $5,735,000 after buying an additional 20,722 shares during the period. UBS Group AG boosted its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 38.4% in the fourth quarter. UBS Group AG now owns 77,545 shares of the company’s stock worth $4,082,000 after buying an additional 21,498 shares during the period. Finally, Arkadios Wealth Advisors increased its position in shares of Invesco Russell 1000 Equal Weight ETF by 8.4% in the fourth quarter. Arkadios Wealth Advisors now owns 50,865 shares of the company’s stock worth $2,678,000 after acquiring an additional 3,923 shares in the last quarter.

About Invesco Russell 1000 Equal Weight ETF

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.