Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Hits New 52-Week High – Time to Buy?

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $78.53 and last traded at $77.71, with a volume of 473371 shares trading hands. The stock had previously closed at $77.78.

Invesco S&P 500 Quality ETF Stock Up 0.5%

The company has a fifty day moving average of $75.78 and a two-hundred day moving average of $73.85. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 25.36 and a beta of 0.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. increased its holdings in Invesco S&P 500 Quality ETF by 458.9% in the 2nd quarter. Baird Financial Group Inc. now owns 208,184 shares of the company’s stock valued at $14,835,000 after purchasing an additional 170,936 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in shares of Invesco S&P 500 Quality ETF by 3.4% in the second quarter. Crestwood Advisors Group LLC now owns 39,672 shares of the company’s stock worth $2,827,000 after buying an additional 1,323 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco S&P 500 Quality ETF by 9.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,843,952 shares of the company’s stock valued at $131,400,000 after buying an additional 161,638 shares in the last quarter. CW Advisors LLC raised its holdings in shares of Invesco S&P 500 Quality ETF by 72.8% during the 2nd quarter. CW Advisors LLC now owns 17,122 shares of the company’s stock valued at $1,220,000 after buying an additional 7,216 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of Invesco S&P 500 Quality ETF by 14.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 53,100 shares of the company’s stock valued at $3,892,000 after buying an additional 6,850 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.