Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sees Strong Trading Volume – Here’s Why

Shares of Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) saw unusually-high trading volume on Friday . Approximately 37,272 shares were traded during trading, an increase of 35% from the previous session’s volume of 27,566 shares.The stock last traded at $50.09 and had previously closed at $49.70.

Invesco Russell 1000 Equal Weight ETF Stock Performance

The stock’s 50 day simple moving average is $49.88 and its 200 day simple moving average is $48.10. The firm has a market cap of $659.55 million, a PE ratio of 16.01 and a beta of 0.95.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 10.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,774 shares of the company’s stock valued at $810,000 after buying an additional 1,585 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Invesco Russell 1000 Equal Weight ETF during the fourth quarter worth approximately $4,143,000. Davis Investment Partners LLC lifted its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 2.2% in the 4th quarter. Davis Investment Partners LLC now owns 37,733 shares of the company’s stock worth $1,809,000 after acquiring an additional 802 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Invesco Russell 1000 Equal Weight ETF in the 3rd quarter valued at $477,000. Finally, FMR LLC grew its holdings in shares of Invesco Russell 1000 Equal Weight ETF by 25.1% during the 3rd quarter. FMR LLC now owns 2,266 shares of the company’s stock valued at $110,000 after purchasing an additional 454 shares during the last quarter.

About Invesco Russell 1000 Equal Weight ETF

The Invesco Russell 1000 Equal Weight ETF (EQAL) is an exchange-traded fund that is based on the Russell 1000 Equal Weight index. The fund tracks an index of the 1,000 largest US stocks. Each sector receives equal weight, and each stock within a sector receives equal weight. EQAL was launched on Dec 23, 2014 and is managed by Invesco.