Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) Sets New 52-Week High – Time to Buy?

Invesco S&P 500 GARP ETF (NYSEARCA:SPGP)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $111.26 and last traded at $111.07, with a volume of 19248 shares traded. The stock had previously closed at $110.42.

Invesco S&P 500 GARP ETF Stock Up 0.6 %

The company has a market capitalization of $5.29 billion, a PE ratio of 15.92 and a beta of 0.97. The company has a 50-day moving average price of $106.26 and a two-hundred day moving average price of $103.78.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in Invesco S&P 500 GARP ETF by 18.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,388,101 shares of the company’s stock valued at $142,669,000 after acquiring an additional 218,760 shares in the last quarter. Investment Planning Advisors Inc. purchased a new stake in shares of Invesco S&P 500 GARP ETF in the 2nd quarter valued at about $12,650,000. Sanctuary Advisors LLC bought a new stake in shares of Invesco S&P 500 GARP ETF during the 2nd quarter valued at about $12,091,000. LPL Financial LLC grew its holdings in shares of Invesco S&P 500 GARP ETF by 3.1% during 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. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Invesco S&P 500 GARP ETF in the third quarter worth approximately $9,526,000.

Invesco S&P 500 GARP ETF Company Profile

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.