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

Shares of Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) reached a new 52-week high on Monday . The stock traded as high as $124.74 and last traded at $124.74, with a volume of 121853 shares. The stock had previously closed at $124.38.

Invesco S&P 500 GARP ETF Stock Performance

The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 16.90 and a beta of 0.96. The company’s 50 day simple moving average is $119.12 and its 200 day simple moving average is $115.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. acquired a new stake in Invesco S&P 500 GARP ETF in the second quarter worth approximately $34,000. Sarver Vrooman Wealth Advisors acquired a new position in shares of Invesco S&P 500 GARP ETF during the 4th quarter valued at $38,000. Arax Advisory Partners bought a new stake in shares of Invesco S&P 500 GARP ETF in the 4th quarter worth $58,000. Elevated Capital Advisors LLC bought a new stake in shares of Invesco S&P 500 GARP ETF in the 4th quarter worth $78,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Invesco S&P 500 GARP ETF in the first quarter valued at $87,000.

About Invesco S&P 500 GARP ETF

The Invesco S&P 500 GARP ETF (SPGP) is an exchange-traded fund that is based on the S&P 500 GARP index. The fund tracks an index of S&P 500 stocks selected by growth, quality and value traits, and weighted by growth. SPGP was launched on Jun 16, 2011 and is managed by Invesco.