Invesco S&P MidCap Quality ETF (NYSEARCA:XMHQ) Hits New 52-Week High – Time to Buy?

Invesco S&P MidCap Quality ETF (NYSEARCA:XMHQ) reached a new 52-week high on Monday . The stock traded as high as $107.65 and last traded at $107.5630, with a volume of 76169 shares trading hands. The stock had previously closed at $107.20.

Invesco S&P MidCap Quality ETF Stock Up 0.2%

The company has a market cap of $5.31 billion, a price-to-earnings ratio of 16.29 and a beta of 1.04. The business has a 50-day simple moving average of $102.93 and a two-hundred day simple moving average of $103.07.

Hedge Funds Weigh In On Invesco S&P MidCap Quality ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XMHQ. Hazlett Burt & Watson Inc. raised its position in shares of Invesco S&P MidCap Quality ETF by 127.2% in the third quarter. Hazlett Burt & Watson Inc. now owns 259 shares of the company’s stock valued at $27,000 after purchasing an additional 145 shares during the period. Root Financial Partners LLC acquired a new position in Invesco S&P MidCap Quality ETF in the 3rd quarter valued at $36,000. Clearstead Trust LLC raised its holdings in Invesco S&P MidCap Quality ETF by 276.7% in the 3rd quarter. Clearstead Trust LLC now owns 388 shares of the company’s stock worth $41,000 after acquiring an additional 285 shares during the period. Asset Dedication LLC bought a new position in Invesco S&P MidCap Quality ETF in the 2nd quarter worth $41,000. Finally, Russell Investments Group Ltd. lifted its position in Invesco S&P MidCap Quality ETF by 1,420.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 441 shares of the company’s stock worth $46,000 after acquiring an additional 412 shares during the last quarter.

About Invesco S&P MidCap Quality ETF

The Invesco S&P MidCap Quality ETF (XMHQ) is an exchange-traded fund that is based on the S&P MidCap 400 Quality index. The fund tracks the S&P mid-cap 400 Quality Index, which screens stocks based on fundamental factors and weights them using a multi-factor approach. XMHQ was launched on Dec 1, 2006 and is managed by Invesco.