Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 1-Year High – Time to Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares reached a new 52-week high on Wednesday. The stock traded as high as $223.43 and last traded at $223.0910, with a volume of 9,653,159 shares trading hands. The stock had previously closed at $219.26.

Invesco S&P 500 Equal Weight ETF Trading Up 1.9%

The stock has a market capitalization of $102.99 billion, a P/E ratio of 20.10 and a beta of 0.91. The business has a 50-day moving average price of $214.96 and a 200 day moving average price of $207.96.

Institutional Trading of Invesco S&P 500 Equal Weight ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gryphon Financial Partners LLC raised its stake in Invesco S&P 500 Equal Weight ETF by 4.6% during the 3rd quarter. Gryphon Financial Partners LLC now owns 2,203 shares of the company’s stock valued at $458,000 after acquiring an additional 96 shares in the last quarter. Consolidated Investment Group LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF in the third quarter valued at approximately $86,157,000. Kestra Investment Management LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 5.9% in the third quarter. Kestra Investment Management LLC now owns 14,949 shares of the company’s stock valued at $3,110,000 after acquiring an additional 839 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Invesco S&P 500 Equal Weight ETF by 223.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,147 shares of the company’s stock valued at $240,000 after acquiring an additional 792 shares during the period. Finally, GreatBanc Trust CO acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the third quarter valued at approximately $317,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Invesco S&P 500 Equal Weight ETF Company Profile

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.