Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 52-Week High – What’s Next?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $198.40 and last traded at $198.2590, with a volume of 6541721 shares. The stock had previously closed at $197.78.

Invesco S&P 500 Equal Weight ETF Stock Performance

The firm’s 50 day moving average is $191.75 and its 200-day moving average is $188.70. The company has a market cap of $79.49 billion, a PE ratio of 20.10 and a beta of 0.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NBZ Investment Advisors LLC purchased a new position in Invesco S&P 500 Equal Weight ETF during the third quarter worth about $26,000. Aviso Financial Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 3rd quarter valued at approximately $28,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 2nd quarter worth approximately $29,000. Tompkins Financial Corp purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 3rd quarter valued at approximately $32,000. Finally, IMA Advisory Services Inc. acquired a new position in Invesco S&P 500 Equal Weight ETF in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.