ALPS Equal Sector Weight ETF (NYSEARCA:EQL) Reaches New 52-Week High – Should You Buy?

Shares of ALPS Equal Sector Weight ETF (NYSEARCA:EQL) hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.11 and last traded at $46.14, with a volume of 4384 shares. The stock had previously closed at $45.96.

ALPS Equal Sector Weight ETF Stock Performance

The firm has a market cap of $555.65 million, a P/E ratio of 22.84 and a beta of 0.95. The firm’s fifty day moving average is $44.93 and its 200 day moving average is $43.05.

Institutional Trading of ALPS Equal Sector Weight ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc. bought a new stake in ALPS Equal Sector Weight ETF in the 1st quarter valued at about $135,340,000. Bank of America Corp DE boosted its holdings in ALPS Equal Sector Weight ETF by 239.8% in the 2nd quarter. Bank of America Corp DE now owns 1,424,257 shares of the company’s stock valued at $62,448,000 after purchasing an additional 1,005,111 shares during the period. Raymond James Financial Inc. boosted its holdings in ALPS Equal Sector Weight ETF by 205.9% in the 2nd quarter. Raymond James Financial Inc. now owns 922,171 shares of the company’s stock valued at $40,434,000 after purchasing an additional 620,663 shares during the period. Ameriprise Financial Inc. boosted its holdings in ALPS Equal Sector Weight ETF by 135.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 397,308 shares of the company’s stock valued at $17,426,000 after purchasing an additional 228,690 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in ALPS Equal Sector Weight ETF by 198.1% in the 2nd quarter. Cetera Investment Advisers now owns 238,109 shares of the company’s stock valued at $10,440,000 after purchasing an additional 158,230 shares during the period.

About ALPS Equal Sector Weight ETF

The ALPS Equal Sector Weight ETF (EQL) is an exchange-traded fund that is based on the NYSE Select Sector Equal Weight index. The fund tracks an equal-weighted index of all select sector SPDR ETFs. EQL was launched on Jul 7, 2009 and is managed by ALPS.