Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Reaches New 1-Year High – Still a Buy?

Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $125.79 and last traded at $125.79, with a volume of 20627 shares trading hands. The stock had previously closed at $125.60.

Invesco S&P 100 Equal Weight ETF Price Performance

The firm’s fifty day moving average is $119.61 and its 200-day moving average is $119.27. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 20.16 and a beta of 0.89.

Institutional Trading of Invesco S&P 100 Equal Weight ETF

Several institutional investors have recently added to or reduced their stakes in EQWL. Pittenger & Anderson Inc. bought a new stake in Invesco S&P 100 Equal Weight ETF during the fourth quarter valued at $30,000. Cornerstone Planning Group LLC bought a new stake in Invesco S&P 100 Equal Weight ETF during the third quarter valued at $32,000. Sound Income Strategies LLC bought a new stake in Invesco S&P 100 Equal Weight ETF during the first quarter valued at $44,000. Wells Fargo & Company MN increased its stake in Invesco S&P 100 Equal Weight ETF by 50,100.0% during the fourth quarter. Wells Fargo & Company MN now owns 502 shares of the company’s stock valued at $59,000 after purchasing an additional 501 shares during the last quarter. Finally, United Community Bank bought a new stake in Invesco S&P 100 Equal Weight ETF during the third quarter valued at $64,000.

About Invesco S&P 100 Equal Weight ETF

PowerShares Fundamental Pure Large Core Portfolio (the Fund), formerly PowerShares Dynamic Large Cap Portfolio, is based on the RAFI Fundamental Large Core Index (Index). The Fund will invest at least 90% of its total assets in the securities that comprise the Index. The Index is consisted of common stocks of large core United States companies, including real estate investment trusts (REITs), from a universe consisted of the 2,500 largest United States companies. The Fund invests in sectors, such as consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, telecommunication services and utilities.