Invesco S&P MidCap 400 Revenue ETF (NYSEARCA:RWK) Sets New 52-Week High – Here’s Why

Invesco S&P MidCap 400 Revenue ETF (NYSEARCA:RWK) hit a new 52-week high on Tuesday . The company traded as high as $151.53 and last traded at $151.53, with a volume of 3939 shares trading hands. The stock had previously closed at $150.01.

Invesco S&P MidCap 400 Revenue ETF Price Performance

The firm’s fifty day moving average is $145.39 and its two-hundred day moving average is $138.06. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 14.05 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Invesco S&P MidCap 400 Revenue ETF by 0.6% in the first quarter. Royal Bank of Canada now owns 69,722 shares of the company’s stock worth $7,522,000 after purchasing an additional 442 shares during the period. Jane Street Group LLC increased its position in shares of Invesco S&P MidCap 400 Revenue ETF by 418.0% during the 1st quarter. Jane Street Group LLC now owns 9,791 shares of the company’s stock valued at $1,056,000 after purchasing an additional 7,901 shares during the period. JPMorgan Chase & Co. increased its position in shares of Invesco S&P MidCap 400 Revenue ETF by 14.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,631 shares of the company’s stock valued at $1,243,000 after purchasing an additional 1,327 shares during the period. NewEdge Advisors LLC raised its stake in shares of Invesco S&P MidCap 400 Revenue ETF by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,909 shares of the company’s stock worth $1,392,000 after buying an additional 1,359 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Invesco S&P MidCap 400 Revenue ETF by 11.1% in the 2nd quarter. Raymond James Financial Inc. now owns 126,366 shares of the company’s stock worth $14,771,000 after buying an additional 12,639 shares in the last quarter.

Invesco S&P MidCap 400 Revenue ETF Company Profile

RevenueShares Mid Cap ETF (the Fund) seeks to achieve its investment objective of outperforming the total return performance of the S&P MidCap 400 Index (S&P 400) by investing in the constituent securities of the S&P 400 in the same proportions as the RevenueShares Mid Cap Index. The Fund consists of the same constituent securities as the S&P 400. But rather than being weighted by market capitalization, the Fund employs a patent-pending investment methodology to weight stocks by annual revenue. The Fund is rebalanced annually.