Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML) Sets New 12-Month High – Still a Buy?

Invesco S&P 500 QVM Multi-factor ETF (NYSEARCA:QVML)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $35.39 and last traded at $35.39, with a volume of 449 shares changing hands. The stock had previously closed at $35.25.

Invesco S&P 500 QVM Multi-factor ETF Stock Down 0.4 %

The stock has a 50 day simple moving average of $34.38 and a 200 day simple moving average of $33.06. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 25.29 and a beta of 0.98.

Institutional Investors Weigh In On Invesco S&P 500 QVM Multi-factor ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF during the third quarter valued at approximately $625,000. Cetera Investment Advisers purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF during the first quarter valued at approximately $4,324,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Invesco S&P 500 QVM Multi-factor ETF during the third quarter valued at approximately $5,727,000.

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.