Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 1-Year High – Still a Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $200.78 and last traded at $200.2490, with a volume of 5307041 shares. The stock had previously closed at $199.40.

Invesco S&P 500 Equal Weight ETF Stock Performance

The stock’s 50-day simple moving average is $192.50 and its 200 day simple moving average is $189.14. The company has a market capitalization of $80.64 billion, a PE ratio of 20.10 and a beta of 0.99.

Institutional Trading of Invesco S&P 500 Equal Weight ETF

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its position in 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 during the period. Heck Capital Advisors LLC purchased a new position in shares of Invesco S&P 500 Equal Weight ETF during the fourth quarter worth about $83,931,000. Bison Wealth LLC grew its holdings in shares of Invesco S&P 500 Equal Weight ETF by 25.8% during the fourth quarter. Bison Wealth LLC now owns 20,957 shares of the company’s stock worth $3,672,000 after buying an additional 4,295 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Invesco S&P 500 Equal Weight ETF in the 1st quarter valued at about $11,553,000. Finally, GAMMA Investing LLC raised its stake in Invesco S&P 500 Equal Weight ETF by 63.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,484 shares of the company’s stock valued at $815,000 after acquiring an additional 1,747 shares during the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

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.