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

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high during trading on Tuesday . The stock traded as high as $216.93 and last traded at $216.75, with a volume of 1162560 shares traded. The stock had previously closed at $215.18.

Invesco S&P 500 Equal Weight ETF Trading Up 1.0%

The firm has a market cap of $97.62 billion, a P/E ratio of 20.10 and a beta of 0.91. The company’s 50 day simple moving average is $210.77 and its 200-day simple moving average is $203.24.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Dorato Capital Management purchased a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter worth approximately $26,000. Nalls Sherbakoff Group LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF during the 4th quarter valued at $29,000. Brandywine Financial Group boosted its stake in shares of Invesco S&P 500 Equal Weight ETF by 636.8% in the 2nd quarter. Brandywine Financial Group now owns 140 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. Hurley Capital LLC boosted its stake in shares of Invesco S&P 500 Equal Weight ETF by 200.0% in the 4th quarter. Hurley Capital LLC now owns 177 shares of the company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the first quarter worth $36,000. 61.18% of the stock is owned by hedge funds and other institutional investors.

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.