Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Reaches New 1-Year High – Still a Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.79 and last traded at $81.67, with a volume of 1058952 shares changing hands. The stock had previously closed at $80.56.

Invesco S&P 500 Quality ETF Trading Down 0.9%

The company’s fifty day simple moving average is $78.27 and its 200 day simple moving average is $76.80. The firm has a market capitalization of $17.44 billion, a P/E ratio of 25.36 and a beta of 0.91.

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

A number of institutional investors have recently bought and sold shares of SPHQ. Cassaday & Co Wealth Management LLC bought a new stake in Invesco S&P 500 Quality ETF during the 1st quarter valued at approximately $27,000. Florida Financial Advisors LLC grew its holdings in shares of Invesco S&P 500 Quality ETF by 19.2% during the 1st quarter. Florida Financial Advisors LLC now owns 8,294 shares of the company’s stock worth $624,000 after acquiring an additional 1,337 shares during the period. Parallel Advisors LLC raised its position in shares of Invesco S&P 500 Quality ETF by 1.4% in the 1st quarter. Parallel Advisors LLC now owns 62,448 shares of the company’s stock worth $4,696,000 after acquiring an additional 869 shares in the last quarter. Hershey Financial Advisers LLC lifted its stake in shares of Invesco S&P 500 Quality ETF by 28.8% in the 1st quarter. Hershey Financial Advisers LLC now owns 28,305 shares of the company’s stock valued at $2,128,000 after purchasing an additional 6,334 shares during the period. Finally, MTM Investment Management LLC lifted its stake in shares of Invesco S&P 500 Quality ETF by 100.0% in the 1st quarter. MTM Investment Management LLC now owns 700 shares of the company’s stock valued at $53,000 after purchasing an additional 350 shares during the period.

Invesco S&P 500 Quality ETF Company Profile

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.