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

Shares of Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) reached a new 52-week high on Tuesday . The stock traded as high as $90.26 and last traded at $90.22, with a volume of 970513 shares. The stock had previously closed at $88.80.

Invesco S&P 500 Quality ETF Trading Down 1.6%

The stock’s 50-day moving average is $84.73 and its 200-day moving average is $80.05. The stock has a market cap of $19.72 billion, a P/E ratio of 25.36 and a beta of 0.90.

Institutional Trading of Invesco S&P 500 Quality ETF

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in Invesco S&P 500 Quality ETF by 68.0% during the second quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock worth $658,846,000 after purchasing an additional 3,741,699 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its position in shares of Invesco S&P 500 Quality ETF by 5.9% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 8,910,347 shares of the company’s stock valued at $668,722,000 after purchasing an additional 496,439 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Invesco S&P 500 Quality ETF by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,915,919 shares of the company’s stock worth $611,604,000 after buying an additional 253,950 shares in the last quarter. Bank of America Corp DE lifted 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 buying an additional 349,166 shares during the period. Finally, Raymond James Financial Inc. lifted 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 buying an additional 603,848 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.