Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Hits New 1-Year High – Time to Buy?

Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $36.31 and last traded at $36.30, with a volume of 2280 shares. The stock had previously closed at $36.26.

Invesco S&P 500 QVM Multi-factor ETF Stock Up 0.3 %

The company has a fifty day simple moving average of $35.30 and a 200 day simple moving average of $34.39. The firm has a market capitalization of $1.11 billion, a P/E ratio of 25.29 and a beta of 0.98.

Institutional Investors Weigh In On Invesco S&P 500 QVM Multi-factor ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in shares of Invesco S&P 500 QVM Multi-factor ETF during the third quarter valued at $625,000. RPg Family Wealth Advisory LLC bought a new position in shares of Invesco S&P 500 QVM Multi-factor ETF during the third quarter valued at $5,727,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Invesco S&P 500 QVM Multi-factor ETF by 1.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,199 shares of the company’s stock valued at $698,000 after purchasing an additional 385 shares in the last quarter.

Invesco S&P 500 QVM Multi-factor ETF Company Profile

The Invesco S&P 500 QVM Multi-factor ETF (QVML) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a market-cap-weighted index that selects the top 90% of stocks in the S&P 500 based on three factors: quality, value, and momentum. QVML was launched on Jun 30, 2021 and is managed by Invesco.