Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) Hits New 1-Year High – Time to Buy?

Invesco S&P 500 GARP ETF (NYSEARCA:SPGP)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $110.17 and last traded at $110.17, with a volume of 1501 shares changing hands. The stock had previously closed at $106.40.

Invesco S&P 500 GARP ETF Stock Performance

The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 15.92 and a beta of 0.97. The business’s 50 day simple moving average is $104.61 and its 200-day simple moving average is $103.25.

Institutional Trading of Invesco S&P 500 GARP ETF

Several hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC grew its stake in shares of Invesco S&P 500 GARP ETF by 3.1% in the second quarter. LPL Financial LLC now owns 3,639,864 shares of the company’s stock worth $374,105,000 after purchasing an additional 109,896 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Invesco S&P 500 GARP ETF by 18.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,388,101 shares of the company’s stock valued at $142,669,000 after buying an additional 218,760 shares in the last quarter. Fifth Third Bancorp increased its stake in Invesco S&P 500 GARP ETF by 1.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,314,431 shares of the company’s stock valued at $135,097,000 after buying an additional 17,717 shares during the period. Retirement Planning Group LLC increased its stake in Invesco S&P 500 GARP ETF by 1.0% during the 3rd quarter. Retirement Planning Group LLC now owns 1,269,426 shares of the company’s stock valued at $132,871,000 after buying an additional 13,062 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Invesco S&P 500 GARP ETF by 11.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 782,377 shares of the company’s stock worth $80,414,000 after acquiring an additional 77,616 shares during the period.

About Invesco S&P 500 GARP ETF

The Invesco S&P 500 GARP ETF (SPGP) is an exchange-traded fund that is based on the S&P 500 GARP index. The fund tracks an index of S&P 500 stocks selected by growth, quality and value traits, and weighted by growth. SPGP was launched on Jun 16, 2011 and is managed by Invesco.