Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Sees Large Volume Increase – What’s Next?

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) saw unusually-high trading volume on Wednesday . Approximately 103,799 shares changed hands during trading, an increase of 272% from the previous session’s volume of 27,898 shares.The stock last traded at $48.05 and had previously closed at $48.17.

Invesco Russell 1000 Equal Weight ETF Price Performance

The stock has a market cap of $604.55 million, a price-to-earnings ratio of 18.50 and a beta of 1.12. The firm’s 50-day moving average is $49.08 and its 200 day moving average is $49.17.

Invesco Russell 1000 Equal Weight ETF Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Invesco Russell 1000 Equal Weight ETF by 3.6% in the fourth quarter. Bank of America Corp DE now owns 626,197 shares of the company’s stock worth $30,245,000 after purchasing an additional 21,906 shares in the last quarter. LPL Financial LLC raised its position in shares of Invesco Russell 1000 Equal Weight ETF by 2.6% during the 4th quarter. LPL Financial LLC now owns 220,467 shares of the company’s stock worth $10,649,000 after purchasing an additional 5,571 shares during the period. Sykon Capital LLC acquired a new stake in shares of Invesco Russell 1000 Equal Weight ETF in the 4th quarter worth about $5,451,000. Strategic Financial Concepts LLC bought a new stake in shares of Invesco Russell 1000 Equal Weight ETF during the fourth quarter valued at approximately $5,398,000. Finally, Miracle Mile Advisors LLC acquired a new position in Invesco Russell 1000 Equal Weight ETF during the 4th quarter worth $4,143,000.

About Invesco Russell 1000 Equal Weight ETF

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.