Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) Sets New 12-Month High – Here’s Why

Shares of Invesco S&P 500 GARP ETF (NYSEARCA:SPGP) hit 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 Price Performance

The stock has a 50-day moving average of $106.46 and a 200 day moving average of $103.85. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 15.92 and a beta of 0.97.

Hedge Funds Weigh In On Invesco S&P 500 GARP ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPGP. Raymond James Financial Services Advisors Inc. boosted its holdings 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 worth $142,669,000 after buying an additional 218,760 shares during the last quarter. Investment Planning Advisors Inc. bought a new position in Invesco S&P 500 GARP ETF during the second quarter worth about $12,650,000. Sanctuary Advisors LLC bought a new position in Invesco S&P 500 GARP ETF during the second quarter worth about $12,091,000. LPL Financial LLC boosted its holdings in 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 buying an additional 109,896 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Invesco S&P 500 GARP ETF during the third quarter worth about $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.