Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Sets New 52-Week High – Time to Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $81.11 and last traded at $81.06, with a volume of 966616 shares changing hands. The stock had previously closed at $80.01.

Invesco S&P 500 Quality ETF Trading Up 1.3%

The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 25.36 and a beta of 0.92. The firm’s 50 day simple moving average is $78.12 and its 200-day simple moving average is $76.54.

Hedge Funds Weigh In On Invesco S&P 500 Quality ETF

Several institutional investors have recently bought and sold shares of SPHQ. Ameriprise Financial Inc. increased its stake in Invesco S&P 500 Quality ETF by 68.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock valued at $658,846,000 after buying an additional 3,741,699 shares during the period. Vantagepoint Investment Advisers LLC acquired a new position in Invesco S&P 500 Quality ETF in the 3rd quarter valued at $245,312,000. Raymond James Financial Inc. increased its stake in Invesco S&P 500 Quality ETF by 61.2% in the 2nd quarter. Raymond James Financial Inc. now owns 3,869,397 shares of the company’s stock valued at $275,733,000 after buying an additional 1,469,187 shares during the period. Envestnet Asset Management Inc. increased its stake in Invesco S&P 500 Quality ETF by 56.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,892,833 shares of the company’s stock valued at $212,016,000 after buying an additional 1,039,995 shares during the period. Finally, Independence Asset Advisors LLC acquired a new position in Invesco S&P 500 Quality ETF in the 1st quarter valued at $73,856,000.

About Invesco S&P 500 Quality ETF

The Invesco S&P 500 Quality ETF (SPHQ) is an exchange-traded fund that is based on the S&P 500 Quality index. The fund tracks an index of US large-cap stocks selected by return on equity, changes in net operating assets and financial leverage. Stocks are weighted by these quality factors, scaled by market cap. SPHQ was launched on Dec 6, 2005 and is managed by Invesco.