Invesco S&P 500 Revenue ETF (NYSEARCA:RWL) Reaches New 1-Year High – Here’s Why

Invesco S&P 500 Revenue ETF (NYSEARCA:RWL) shares hit a new 52-week high on Thursday . The stock traded as high as $127.60 and last traded at $127.60, with a volume of 149 shares trading hands. The stock had previously closed at $122.60.

Invesco S&P 500 Revenue ETF Stock Down 0.3%

The stock has a market cap of $8.75 billion, a P/E ratio of 18.14 and a beta of 0.86. The firm’s 50-day moving average is $118.38 and its two-hundred day moving average is $116.24.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valmark Advisers Inc. bought a new position in Invesco S&P 500 Revenue ETF during the first quarter valued at approximately $231,000. Fifth Third Bancorp bought a new position in Invesco S&P 500 Revenue ETF during the first quarter valued at approximately $1,273,000. Simplicity Wealth LLC raised its position in Invesco S&P 500 Revenue ETF by 15.6% during the first quarter. Simplicity Wealth LLC now owns 22,778 shares of the company’s stock valued at $2,617,000 after acquiring an additional 3,070 shares in the last quarter. Petix & Botte Co raised its position in Invesco S&P 500 Revenue ETF by 11.7% during the first quarter. Petix & Botte Co now owns 102,976 shares of the company’s stock valued at $11,833,000 after acquiring an additional 10,808 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in Invesco S&P 500 Revenue ETF by 9.3% during the first quarter. Kestra Advisory Services LLC now owns 468,418 shares of the company’s stock valued at $53,826,000 after acquiring an additional 39,736 shares in the last quarter.

About Invesco S&P 500 Revenue ETF

RevenueShares Large Cap ETF (the Fund) seeks to achieve its investment objective of outperforming the total return performance of the S&P 500 Index (S&P 500) by investing in the constituent securities of the S&P 500 in the same proportions as the RevenueShares Large Cap Index. The Fund consists of the same constituent securities as the S&P 500. But rather than being weighted by market capitalization, the Fund employs a patent-pending investment methodology to weight stocks by annual revenue. The Fund is rebalanced annually.