Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) Sees Large Volume Increase – Still a Buy?

Shares of Invesco S&P 100 Equal Weight ETF (NYSEARCA:EQWL) saw unusually-strong trading volume on Tuesday . Approximately 118,315 shares changed hands during mid-day trading, an increase of 77% from the previous session’s volume of 66,825 shares.The stock last traded at $104.69 and had previously closed at $106.94.

Invesco S&P 100 Equal Weight ETF Stock Performance

The company’s 50 day moving average is $105.16 and its 200 day moving average is $103.69. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.10 and a beta of 0.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors bought a new position in shares of Invesco S&P 100 Equal Weight ETF during the fourth quarter valued at $284,000. FMR LLC lifted its holdings in Invesco S&P 100 Equal Weight ETF by 25.7% during the 3rd quarter. FMR LLC now owns 1,536 shares of the company’s stock valued at $157,000 after purchasing an additional 314 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Invesco S&P 100 Equal Weight ETF by 83.6% in the 3rd quarter. Jane Street Group LLC now owns 4,230 shares of the company’s stock worth $433,000 after acquiring an additional 1,926 shares in the last quarter. Private Advisor Group LLC bought a new stake in Invesco S&P 100 Equal Weight ETF during the 3rd quarter worth approximately $429,000. Finally, JPMorgan Chase & Co. increased its holdings in Invesco S&P 100 Equal Weight ETF by 41,441.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,985 shares of the company’s stock valued at $510,000 after purchasing an additional 4,973 shares in the last quarter.

Invesco S&P 100 Equal Weight ETF Company Profile

PowerShares Fundamental Pure Large Core Portfolio (the Fund), formerly PowerShares Dynamic Large Cap Portfolio, is based on the RAFI Fundamental Large Core Index (Index). The Fund will invest at least 90% of its total assets in the securities that comprise the Index. The Index is consisted of common stocks of large core United States companies, including real estate investment trusts (REITs), from a universe consisted of the 2,500 largest United States companies.