Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Hits New 52-Week High – Time to Buy?

Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $35.96 and last traded at $35.77, with a volume of 271 shares changing hands. The stock had previously closed at $35.76.

Invesco S&P 500 QVM Multi-factor ETF Price Performance

The firm has a market cap of $1.10 billion, a PE ratio of 25.29 and a beta of 0.98. The company’s 50 day moving average price is $35.22 and its 200 day moving average price is $34.14.

Hedge Funds Weigh In On Invesco S&P 500 QVM Multi-factor ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QVML. Jane Street Group LLC purchased a new stake in shares of Invesco S&P 500 QVM Multi-factor ETF during the third quarter worth approximately $625,000. RPg Family Wealth Advisory LLC acquired a new position in Invesco S&P 500 QVM Multi-factor ETF during the 3rd quarter worth approximately $5,727,000. Finally, Cetera Investment Advisers grew its holdings in Invesco S&P 500 QVM Multi-factor ETF by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 140,360 shares of the company’s stock worth $4,546,000 after acquiring an additional 1,390 shares in the last quarter.

About Invesco S&P 500 QVM Multi-factor ETF

The Invesco S&P 500 QVM Multi-factor ETF (QVML) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks a market-cap-weighted index that selects the top 90% of stocks in the S&P 500 based on three factors: quality, value, and momentum. QVML was launched on Jun 30, 2021 and is managed by Invesco.