Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Sees Strong Trading Volume – Should You Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) shares saw strong trading volume on Wednesday . Approximately 3,303,200 shares were traded during trading, an increase of 94% from the previous session’s volume of 1,703,803 shares.The stock last traded at $86.91 and had previously closed at $86.69.

Invesco S&P 500 Quality ETF Stock Down 0.6%

The stock has a market cap of $19.66 billion, a P/E ratio of 25.36 and a beta of 0.91. The stock has a fifty day simple moving average of $86.80 and a 200-day simple moving average of $82.49.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPHQ. Ameriprise Financial Inc. raised its holdings in Invesco S&P 500 Quality ETF by 68.0% in 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 during the period. Bank of America Corp DE increased its position in shares of Invesco S&P 500 Quality ETF by 8.0% in the 3rd 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 in the last quarter. Raymond James Financial Inc. raised its stake in Invesco S&P 500 Quality ETF by 15.6% during the 3rd quarter. Raymond James Financial Inc. now owns 4,473,245 shares of the company’s stock worth $327,844,000 after buying an additional 603,848 shares during the period. Bank of New York Mellon Corp raised its stake in Invesco S&P 500 Quality ETF by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,801,483 shares of the company’s stock worth $210,251,000 after buying an additional 80,335 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Invesco S&P 500 Quality ETF by 2.7% during the fourth quarter. Royal Bank of Canada now owns 2,617,869 shares of the company’s stock worth $196,470,000 after acquiring an additional 69,645 shares in the last quarter.

About Invesco S&P 500 Quality ETF

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.