Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) Sets New 1-Year High – Here’s Why

Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $69.54 and last traded at $69.28, with a volume of 148735 shares traded. The stock had previously closed at $68.63.

Invesco S&P 500 Quality ETF Price Performance

The stock has a market capitalization of $10.36 billion, a P/E ratio of 22.60 and a beta of 0.98. The stock’s fifty day moving average is $67.84 and its 200-day moving average is $65.78.

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

A number of hedge funds have recently bought and sold shares of SPHQ. Envestnet Asset Management Inc. boosted its holdings in Invesco S&P 500 Quality ETF by 1,479.5% during the second quarter. Envestnet Asset Management Inc. now owns 12,655,241 shares of the company’s stock valued at $804,114,000 after acquiring an additional 11,854,003 shares during the period. LPL Financial LLC raised its position in shares of Invesco S&P 500 Quality ETF by 12.2% during the second quarter. LPL Financial LLC now owns 7,602,027 shares of the company’s stock valued at $483,033,000 after buying an additional 825,232 shares during the last quarter. Assetmark Inc. raised its position in shares of Invesco S&P 500 Quality ETF by 43,723.2% during the third quarter. Assetmark Inc. now owns 624,481 shares of the company’s stock valued at $42,009,000 after buying an additional 623,056 shares during the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Invesco S&P 500 Quality ETF during the second quarter valued at about $35,759,000. Finally, Mainstay Capital Management LLC ADV raised its position in shares of Invesco S&P 500 Quality ETF by 51.2% during the third quarter. Mainstay Capital Management LLC ADV now owns 1,453,755 shares of the company’s stock valued at $97,794,000 after buying an additional 492,561 shares during the last quarter.

Invesco S&P 500 Quality ETF Company Profile

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.