Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) Reaches New 12-Month High – Still a Buy?

Shares of Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) hit a new 52-week high during trading on Monday . The company traded as high as $116.81 and last traded at $116.58, with a volume of 17314 shares trading hands. The stock had previously closed at $114.52.

Invesco S&P 500 GARP ETF Stock Down 1.0%

The stock has a market capitalization of $2.49 billion, a P/E ratio of 16.90 and a beta of 1.00. The business’s 50 day simple moving average is $112.92 and its two-hundred day simple moving average is $111.77.

Hedge Funds Weigh In On Invesco S&P 500 GARP ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its stake in shares of Invesco S&P 500 GARP ETF by 27.9% in the third quarter. Sunbelt Securities Inc. now owns 2,070 shares of the company’s stock worth $235,000 after purchasing an additional 451 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Invesco S&P 500 GARP ETF by 107.8% during the third quarter. Kestra Private Wealth Services LLC now owns 34,555 shares of the company’s stock valued at $3,926,000 after buying an additional 17,926 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Invesco S&P 500 GARP ETF by 1.6% during the third quarter. NewEdge Advisors LLC now owns 37,922 shares of the company’s stock worth $4,309,000 after buying an additional 593 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Invesco S&P 500 GARP ETF in the 3rd quarter valued at $532,000. Finally, Strategic Wealth Partners Ltd. raised its position in Invesco S&P 500 GARP ETF by 2.6% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 5,129 shares of the company’s stock valued at $583,000 after buying an additional 129 shares during the last quarter.

About Invesco S&P 500 GARP ETF

The Invesco S&P 500 GARP ETF (SPGP) is an exchange-traded fund that is based on the S&P 500 GARP index. The fund tracks an index of S&P 500 stocks selected by growth, quality and value traits, and weighted by growth. SPGP was launched on Jun 16, 2011 and is managed by Invesco.