Municipal Employees Retirement System of Michigan Has $1.14 Billion Stock Position in Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML)

Municipal Employees Retirement System of Michigan lifted its position in Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,132,010 shares of the company’s stock after buying an additional 3,758,630 shares during the quarter. Invesco S&P 500 QVM Multi-factor ETF comprises approximately 14.5% of Municipal Employees Retirement System of Michigan’s holdings, making the stock its biggest position. Municipal Employees Retirement System of Michigan owned approximately 97.94% of Invesco S&P 500 QVM Multi-factor ETF worth $1,143,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in QVML. ArborFi Advisors LLC bought a new position in Invesco S&P 500 QVM Multi-factor ETF during the first quarter worth $363,000. Envestnet Asset Management Inc. boosted its position in 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 worth $698,000 after purchasing an additional 385 shares during the period. Axxcess Wealth Management LLC bought a new position in Invesco S&P 500 QVM Multi-factor ETF during the first quarter worth $2,564,000. Finally, Colonial River Investments LLC bought a new position in Invesco S&P 500 QVM Multi-factor ETF during the first quarter worth $3,085,000.

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

QVML stock opened at $37.67 on Friday. Invesco S&P 500 QVM Multi-factor ETF has a one year low of $28.80 and a one year high of $37.68. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 23.98 and a beta of 0.98. The company has a fifty day moving average price of $35.95 and a two-hundred day moving average price of $34.69.

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.