Stock Yards Bank Boosts Invesco S&P 500 Quality ETF Stake by 390.9%

Stock Yards Bank & Trust Co. significantly increased its investment in the Invesco S&P 500 Quality ETF, raising its stake by an impressive 390.9% during the third quarter of 2023. According to the bank’s recent 13F filing with the Securities and Exchange Commission, it now holds 22,066 shares of the ETF, valued at approximately $1,617,000 following the acquisition of an additional 17,571 shares during the quarter.

Other institutional investors have also adjusted their positions in the Invesco S&P 500 Quality ETF, which trades under the ticker symbol NYSEARCA:SPHQ. Brighton Jones LLC enhanced its holdings by 4.0% in the fourth quarter, bringing its total to 3,948 shares, valued at $265,000. Similarly, Bogart Wealth LLC increased its stake by 19.2% in the second quarter, now owning 964 shares worth $69,000, after acquiring an additional 155 shares.

In the third quarter, Fragasso Financial Advisors Inc. raised its holdings by 0.5%, resulting in ownership of 31,677 shares valued at $2,342,000. Brown Advisory Inc. also reported a 1.1% increase in its position, now holding 15,535 shares valued at $1,107,000 after acquiring 166 additional shares. Dynamic Advisor Solutions LLC similarly raised its stake by 0.5%, increasing its holdings to 35,163 shares worth $2,577,000.

Recent Performance of SPHQ

As of Thursday, shares of the Invesco S&P 500 Quality ETF opened at $77.23. The ETF has shown a strong performance, with a 50-day simple moving average of $75.34 and a 200-day simple moving average of $73.65. Over the past year, it has recorded a 52-week low of $57.67 and a 52-week high of $78.09. The ETF currently boasts a market capitalization of $15.66 billion, a price-to-earnings ratio of 25.36, and a beta of 0.92.

The Invesco S&P 500 Quality ETF, which tracks the S&P 500 Quality Index, is designed to reflect the performance of U.S. large-cap stocks selected based on return on equity, changes in net operating assets, and financial leverage. The ETF was launched on December 6, 2005 and is managed by Invesco.

Investors are keenly observing these changes in holdings as they may indicate broader trends in investment strategies. As institutional interest in the Invesco S&P 500 Quality ETF grows, it could potentially lead to increased trading volume and influence market dynamics.