Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Sets New 1-Year High – What’s Next?

Shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high on Tuesday . The stock traded as high as $218.66 and last traded at $218.66, with a volume of 3995344 shares trading hands. The stock had previously closed at $217.11.

Invesco S&P 500 Equal Weight ETF Trading Down 0.5%

The stock’s 50-day moving average price is $212.42 and its 200-day moving average price is $204.21. The company has a market capitalization of $98.81 billion, a P/E ratio of 20.10 and a beta of 0.91.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Nalls Sherbakoff Group LLC bought a new position in Invesco S&P 500 Equal Weight ETF during the 4th quarter worth $29,000. Brandywine Financial Group boosted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 636.8% during the second quarter. Brandywine Financial Group now owns 140 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the period. Hurley Capital LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 200.0% during the fourth quarter. Hurley Capital LLC now owns 177 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Asset Dedication LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF during the first quarter worth about $36,000. Finally, Basepoint Wealth LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

About Invesco S&P 500 Equal Weight ETF

Guggenheim S&P 500 Equal Weight ETF, formerly Rydex S&P 500 Equal Weight ETF, seeks to replicate as closely as possible, the daily performance of the S&P 500 Equal Weight Index (the Index). The Index is a capitalization-weighted index covering 500 industrial, utility, transportation and financial companies of the United States markets (mostly NYSE Euronext issues). The Index utilizes quarterly rebalancing to maintain its equal-weight stance. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowing for investment purposes, in the equity securities (and derivatives thereof) included in the Index.