Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Sees Strong Trading Volume – Here’s What Happened

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) saw an uptick in trading volume on Wednesday . 7,135,938 shares changed hands during trading, an increase of 316% from the previous session’s volume of 1,716,532 shares.The stock last traded at $83.20 and had previously closed at $82.07.

Invesco S&P 500 Quality ETF Price Performance

The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 25.36 and a beta of 0.91. The firm’s 50-day simple moving average is $78.95 and its two-hundred day simple moving average is $77.40.

Institutional Investors Weigh In On Invesco S&P 500 Quality ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Invesco S&P 500 Quality ETF by 68.0% during the second quarter. Ameriprise Financial Inc. now owns 9,247,520 shares of the company’s stock worth $658,846,000 after purchasing an additional 3,741,699 shares in the last quarter. Vantagepoint Investment Advisers LLC purchased a new position in shares of Invesco S&P 500 Quality ETF in the third quarter valued at $245,312,000. Raymond James Financial Inc. increased its position in shares of Invesco S&P 500 Quality ETF by 61.2% in the second quarter. Raymond James Financial Inc. now owns 3,869,397 shares of the company’s stock valued at $275,733,000 after buying an additional 1,469,187 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Invesco S&P 500 Quality ETF by 56.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,892,833 shares of the company’s stock worth $212,016,000 after buying an additional 1,039,995 shares during the last quarter. Finally, Independence Asset Advisors LLC acquired a new position in shares of Invesco S&P 500 Quality ETF during the 1st quarter worth $73,856,000.

About Invesco S&P 500 Quality ETF

The Invesco S&P 500 Quality ETF (SPHQ) is an exchange-traded fund that is based on the S&P 500 Quality index. The fund tracks an index of US large-cap stocks selected by return on equity, changes in net operating assets and financial leverage. Stocks are weighted by these quality factors, scaled by market cap. SPHQ was launched on Dec 6, 2005 and is managed by Invesco.