Invesco S&P 500 Equal Weight Health Care ETF (NYSEARCA:RSPH) Hits New 52-Week High – Still a Buy?

Invesco S&P 500 Equal Weight Health Care ETF (NYSEARCA:RSPH) reached a new 52-week high during trading on Tuesday. The company traded as high as $39.33 and last traded at $39.2250, with a volume of 114,611 shares changing hands. The stock had previously closed at $38.68.

Invesco S&P 500 Equal Weight Health Care ETF Trading Up 1.5%

The company has a 50-day moving average price of $37.17 and a two-hundred day moving average price of $33.93. The stock has a market cap of $928.89 million, a P/E ratio of 21.06 and a beta of 0.78.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Walker Asset Management LLC increased its stake in shares of Invesco S&P 500 Equal Weight Health Care ETF by 0.9% during the first quarter. Walker Asset Management LLC now owns 43,444 shares of the company’s stock worth $1,312,000 after purchasing an additional 367 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Invesco S&P 500 Equal Weight Health Care ETF by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,117 shares of the company’s stock worth $487,000 after buying an additional 635 shares during the period. Continuum Advisory LLC acquired a new position in Invesco S&P 500 Equal Weight Health Care ETF in the second quarter valued at $25,000. IFP Advisors Inc boosted its holdings in Invesco S&P 500 Equal Weight Health Care ETF by 42.3% in the 2nd quarter. IFP Advisors Inc now owns 2,602 shares of the company’s stock valued at $86,000 after purchasing an additional 773 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Invesco S&P 500 Equal Weight Health Care ETF by 7.6% in the first quarter. Sequoia Financial Advisors LLC now owns 11,547 shares of the company’s stock valued at $349,000 after buying an additional 811 shares in the last quarter.

Invesco S&P 500 Equal Weight Health Care ETF Company Profile

The Invesco S&P 500 Equal Weight Health Care ETF (RSPH) is an exchange-traded fund that mostly invests in health care equity. The fund tracks an equal-weighted index of US health care companies taken from the S&P 500 Index. RSPH was launched on Nov 1, 2006 and is managed by Invesco.