Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Hits New 52-Week High – Time to Buy?

Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN)’s share price reached a new 52-week high on Tuesday . The company traded as high as $64.66 and last traded at $64.63, with a volume of 23118 shares trading hands. The stock had previously closed at $63.80.

Invesco S&P 500 Equal Weight Industrials ETF Stock Up 2.1%

The firm has a market capitalization of $1.13 billion, a PE ratio of 22.94 and a beta of 1.00. The stock has a 50-day simple moving average of $62.51 and a 200-day simple moving average of $61.23.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Industrials ETF

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Invesco S&P 500 Equal Weight Industrials ETF by 0.8% in the first quarter. Royal Bank of Canada now owns 173,328 shares of the company’s stock valued at $8,482,000 after purchasing an additional 1,458 shares during the period. Brown Advisory Inc. boosted its holdings in Invesco S&P 500 Equal Weight Industrials ETF by 6.8% in the 2nd quarter. Brown Advisory Inc. now owns 15,750 shares of the company’s stock worth $843,000 after buying an additional 1,000 shares during the period. Quantinno Capital Management LP purchased a new position in Invesco S&P 500 Equal Weight Industrials ETF in the 2nd quarter valued at approximately $388,000. Raymond James Financial Inc. grew its stake in Invesco S&P 500 Equal Weight Industrials ETF by 55.6% in the 2nd quarter. Raymond James Financial Inc. now owns 227,096 shares of the company’s stock valued at $12,156,000 after buying an additional 81,168 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Invesco S&P 500 Equal Weight Industrials ETF by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 272,339 shares of the company’s stock valued at $14,578,000 after acquiring an additional 12,294 shares during the period.

About Invesco S&P 500 Equal Weight Industrials ETF

The Invesco S&P 500 Equal Weight Industrials ETF (RSPN) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks an equal-weighted index of industrial US stocks drawn from the S&P 500. RSPN was launched on Nov 1, 2006 and is managed by Invesco.