Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 52-Week High – Should You Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares reached a new 52-week high on Tuesday . The company traded as high as $202.82 and last traded at $202.38, with a volume of 14584612 shares changing hands. The stock had previously closed at $202.26.

Invesco S&P 500 Equal Weight ETF Price Performance

The stock has a market capitalization of $83.93 billion, a P/E ratio of 20.10 and a beta of 0.99. The stock’s 50-day simple moving average is $195.64 and its 200 day simple moving average is $190.53.

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

Several hedge funds have recently bought and sold shares of RSP. Brighton Jones LLC lifted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 3.4% during the fourth quarter. Brighton Jones LLC now owns 7,516 shares of the company’s stock worth $1,317,000 after buying an additional 246 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Invesco S&P 500 Equal Weight ETF in the 4th quarter worth about $83,931,000. Bison Wealth LLC raised its stake in Invesco S&P 500 Equal Weight ETF by 25.8% in the 4th quarter. Bison Wealth LLC now owns 20,957 shares of the company’s stock worth $3,672,000 after purchasing an additional 4,295 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Invesco S&P 500 Equal Weight ETF in the 1st quarter valued at about $11,553,000. Finally, Callan Family Office LLC grew its position in shares of Invesco S&P 500 Equal Weight ETF by 3.6% during the 2nd quarter. Callan Family Office LLC now owns 4,055 shares of the company’s stock worth $737,000 after purchasing an additional 140 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.