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) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.83 and last traded at $42.74, with a volume of 7726 shares. The stock had previously closed at $42.36.

Invesco S&P 500 QVM Multi-factor ETF Price Performance

The business has a 50-day simple moving average of $40.18 and a 200-day simple moving average of $40.18. The stock has a market cap of $1.60 billion, a P/E ratio of 23.98 and a beta of 0.97.

Hedge Funds Weigh In On Invesco S&P 500 QVM Multi-factor ETF

Several large investors have recently bought and sold shares of the stock. Axxcess Wealth Management LLC grew its position in Invesco S&P 500 QVM Multi-factor ETF by 99.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 208,499 shares of the company’s stock worth $8,377,000 after purchasing an additional 103,945 shares during the last quarter. Colonial River Investments LLC raised its position in shares of Invesco S&P 500 QVM Multi-factor ETF by 98.8% during the fourth quarter. Colonial River Investments LLC now owns 208,641 shares of the company’s stock valued at $8,383,000 after buying an additional 103,688 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Invesco S&P 500 QVM Multi-factor ETF in the fourth quarter valued at about $1,474,000. LPL Financial LLC lifted its stake in shares of Invesco S&P 500 QVM Multi-factor ETF by 80.8% in the fourth quarter. LPL Financial LLC now owns 78,530 shares of the company’s stock valued at $3,155,000 after buying an additional 35,089 shares during the period. Finally, Bank of America Corp DE grew its position in Invesco S&P 500 QVM Multi-factor ETF by 42.4% during the second quarter. Bank of America Corp DE now owns 34,237 shares of the company’s stock worth $1,254,000 after buying an additional 10,191 shares in the last quarter.

About Invesco S&P 500 QVM Multi-factor ETF

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.