Invesco RAFI US 1000 ETF (NYSEARCA:PRF) Reaches New 12-Month High – Here’s Why

Invesco RAFI US 1000 ETF (NYSEARCA:PRF) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $53.16 and last traded at $53.13, with a volume of 12641 shares traded. The stock had previously closed at $52.65.

Invesco RAFI US 1000 ETF Stock Performance

The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 17.96 and a beta of 0.88. The firm’s 50-day simple moving average is $49.81 and its 200-day simple moving average is $48.49.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco RAFI US 1000 ETF by 1,740.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 33,412,176 shares of the company’s stock valued at $1,537,911,000 after purchasing an additional 31,596,591 shares during the last quarter. Berman McAleer LLC bought a new position in shares of Invesco RAFI US 1000 ETF in the third quarter worth about $70,352,000. Focus Partners Wealth raised its stake in shares of Invesco RAFI US 1000 ETF by 367.4% in the fourth quarter. Focus Partners Wealth now owns 1,714,516 shares of the company’s stock worth $80,419,000 after acquiring an additional 1,347,696 shares during the last quarter. Boulder Wealth Advisors LLC acquired a new stake in shares of Invesco RAFI US 1000 ETF during the 3rd quarter worth approximately $20,802,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Invesco RAFI US 1000 ETF during the 4th quarter worth approximately $19,644,000.

About Invesco RAFI US 1000 ETF

The Invesco FTSE RAFI US 1000 ETF (PRF) is an exchange-traded fund that is based on the FTSE RAFI US 1000 index. The fund tracks an index of 1,000 of the largest US companies that are selected and weighted using fundamental metrics. PRF was launched on Dec 19, 2005 and is managed by Invesco.