Summit Wealth Group LLC Co. Invests $27.84 Million in Invesco S&P 500 Quality ETF $SPHQ

Summit Wealth Group LLC Co. acquired a new position in shares of Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) during the 4th quarter, Holdings Channel reports. The fund acquired 370,957 shares of the company’s stock, valued at approximately $27,840,000. Invesco S&P 500 Quality ETF comprises about 3.7% of Summit Wealth Group LLC Co.’s holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Invesco S&P 500 Quality ETF by 68.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock worth $658,846,000 after acquiring an additional 3,741,699 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC lifted its stake in Invesco S&P 500 Quality ETF by 5.9% in the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 8,910,347 shares of the company’s stock valued at $668,722,000 after buying an additional 496,439 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Invesco S&P 500 Quality ETF by 3.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,915,919 shares of the company’s stock valued at $611,604,000 after purchasing an additional 253,950 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Invesco S&P 500 Quality ETF by 8.0% in the third quarter. Bank of America Corp DE now owns 4,710,108 shares of the company’s stock valued at $345,204,000 after purchasing an additional 349,166 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Invesco S&P 500 Quality ETF by 15.6% in the third quarter. Raymond James Financial Inc. now owns 4,473,245 shares of the company’s stock valued at $327,844,000 after purchasing an additional 603,848 shares during the last quarter.

Invesco S&P 500 Quality ETF Stock Down 0.5%

NYSEARCA SPHQ opened at $82.59 on Wednesday. The company has a market capitalization of $17.58 billion, a PE ratio of 25.36 and a beta of 0.91. Invesco S&P 500 Quality ETF has a 12-month low of $68.68 and a 12-month high of $83.08. The firm’s 50 day moving average is $78.38 and its 200-day moving average is $76.98.

Invesco S&P 500 Quality ETF 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.