Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Reaches New 1-Year High – Still a Buy?

Shares of Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $135.82 and last traded at $135.82, with a volume of 23061 shares changing hands. The stock had previously closed at $134.31.

Invesco S&P 100 Equal Weight ETF Trading Up 0.9%

The business’s fifty day simple moving average is $130.37 and its 200 day simple moving average is $124.57. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89.

Institutional Investors Weigh In On Invesco S&P 100 Equal Weight ETF

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in Invesco S&P 100 Equal Weight ETF by 5.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,757 shares of the company’s stock worth $201,000 after purchasing an additional 85 shares during the period. Foronjy Financial LLC raised its stake in shares of Invesco S&P 100 Equal Weight ETF by 0.6% in the 4th quarter. Foronjy Financial LLC now owns 15,151 shares of the company’s stock valued at $1,790,000 after purchasing an additional 96 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 36,244 shares of the company’s stock valued at $4,283,000 after purchasing an additional 108 shares in the last quarter. Avant Capital LLC lifted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 3.5% in the fourth quarter. Avant Capital LLC now owns 3,806 shares of the company’s stock valued at $450,000 after purchasing an additional 127 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in shares of Invesco S&P 100 Equal Weight ETF by 0.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 15,930 shares of the company’s stock worth $1,882,000 after buying an additional 140 shares during the period.

About Invesco S&P 100 Equal Weight ETF

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.