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

Invesco S&P 500 Equal Weight Energy ETF (NYSEARCA:RSPG)’s stock price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $118.24 and last traded at $118.21, with a volume of 180,481 shares traded. The stock had previously closed at $116.07.

Invesco S&P 500 Equal Weight Energy ETF Trading Up 1.8%

The stock has a 50 day simple moving average of $112.08 and a 200-day simple moving average of $106.72. The firm has a market capitalization of $653.70 million, a P/E ratio of 13.87 and a beta of 0.56.

Hedge Funds Weigh In On Invesco S&P 500 Equal Weight Energy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in RSPG. Stonebridge Financial Group LLC raised its stake in Invesco S&P 500 Equal Weight Energy ETF by 3.4% during the 3rd quarter. Stonebridge Financial Group LLC now owns 73,216 shares of the company’s stock worth $7,868,000 after acquiring an additional 2,423 shares during the period. Lee Johnson Capital Management LLC purchased a new position in Invesco S&P 500 Equal Weight Energy ETF during the first quarter valued at approximately $6,823,000. Oarsman Capital Inc. boosted its position in shares of Invesco S&P 500 Equal Weight Energy ETF by 4.7% in the fourth quarter. Oarsman Capital Inc. now owns 57,879 shares of the company’s stock worth $4,606,000 after purchasing an additional 2,585 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Invesco S&P 500 Equal Weight Energy ETF in the third quarter worth approximately $6,026,000. Finally, Royal Bank of Canada boosted its position in shares of Invesco S&P 500 Equal Weight Energy ETF by 28.6% in the first quarter. Royal Bank of Canada now owns 41,264 shares of the company’s stock worth $4,517,000 after purchasing an additional 9,173 shares during the period.

Invesco S&P 500 Equal Weight Energy ETF Company Profile

The Invesco S&P 500 Equal Weight Energy ETF (RSPG) is an exchange-traded fund that is based on the S&P 500 Equal Weight Energy Plus index. The fund tracks an equal-weighted index of US energy companies in the S&P 500. RSPG was launched on Nov 1, 2006 and is managed by Invesco.