Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sets New 52-Week Low – Time to Sell?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $43.18 and last traded at $42.99, with a volume of 21693 shares. The stock had previously closed at $45.37.

Invesco Russell 1000 Equal Weight ETF Stock Down 5.8 %

The company’s 50-day moving average is $48.61 and its 200 day moving average is $49.15. The company has a market cap of $547.33 million, a price-to-earnings ratio of 16.90 and a beta of 1.06.

Invesco Russell 1000 Equal Weight ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a $0.2251 dividend. The ex-dividend date was Monday, March 24th. This is a positive change from Invesco Russell 1000 Equal Weight ETF’s previous dividend of $0.17.

Hedge Funds Weigh In On Invesco Russell 1000 Equal Weight ETF

A number of hedge funds have recently bought and sold shares of EQAL. FMR LLC raised its position in Invesco Russell 1000 Equal Weight ETF by 25.1% during the third quarter. FMR LLC now owns 2,266 shares of the company’s stock worth $110,000 after acquiring an additional 454 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Invesco Russell 1000 Equal Weight ETF during the 3rd quarter worth about $477,000. Davis Investment Partners LLC lifted its stake in 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 valued at $1,809,000 after buying an additional 802 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Invesco Russell 1000 Equal Weight ETF in the 4th quarter worth about $4,143,000. Finally, Janney Montgomery Scott LLC increased its stake in 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 worth $810,000 after buying an additional 1,585 shares in the last quarter.

Invesco Russell 1000 Equal Weight ETF Company Profile

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.