Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sets New 52-Week High – Should You Buy?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) hit a new 52-week high during trading on Friday . The company traded as high as $53.12 and last traded at $53.1410, with a volume of 2624 shares changing hands. The stock had previously closed at $52.79.

Invesco Russell 1000 Equal Weight ETF Stock Up 0.5%

The stock has a 50-day moving average of $51.90 and a 200 day moving average of $50.66. The stock has a market cap of $694.88 million, a PE ratio of 18.07 and a beta of 1.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EQAL. Ameriflex Group Inc. acquired a new position in Invesco Russell 1000 Equal Weight ETF during the second quarter valued at $25,000. Harbour Investments Inc. raised its stake in shares of Invesco Russell 1000 Equal Weight ETF by 9.9% during the 2nd quarter. Harbour Investments Inc. now owns 3,151 shares of the company’s stock valued at $155,000 after buying an additional 285 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 15.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,818 shares of the company’s stock valued at $198,000 after buying an additional 501 shares during the period. Fiduciary Financial Group LLC purchased a new stake in shares of Invesco Russell 1000 Equal Weight ETF in the third quarter worth about $203,000. Finally, Captrust Financial Advisors acquired a new stake in Invesco Russell 1000 Equal Weight ETF during the second quarter worth about $203,000.

About Invesco Russell 1000 Equal Weight ETF

The Invesco Russell 1000 Equal Weight ETF (EQAL) is an exchange-traded fund that is based on the Russell 1000 Equal Weight index. The fund tracks an index of the 1,000 largest US stocks. Each sector receives equal weight, and each stock within a sector receives equal weight. EQAL was launched on Dec 23, 2014 and is managed by Invesco.