Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Sees Strong Trading Volume – Time to Buy?

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) saw unusually-high trading volume on Friday . Approximately 179,675 shares changed hands during mid-day trading, an increase of 259% from the previous session’s volume of 50,043 shares.The stock last traded at $82.51 and had previously closed at $82.13.

Invesco S&P 500 Equal Weight Utilities ETF Stock Down 0.4%

The firm has a market capitalization of $584.27 million, a PE ratio of 18.42 and a beta of 0.65. The stock’s fifty day simple moving average is $81.88 and its 200 day simple moving average is $78.67.

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

Several institutional investors and hedge funds have recently bought and sold shares of RSPU. Bank of America Corp DE increased its position in Invesco S&P 500 Equal Weight Utilities ETF by 562.9% in the second quarter. Bank of America Corp DE now owns 412,381 shares of the company’s stock worth $29,329,000 after buying an additional 350,174 shares in the last quarter. Denver Wealth Management Inc. lifted its position in shares of Invesco S&P 500 Equal Weight Utilities ETF by 584.4% during the 4th quarter. Denver Wealth Management Inc. now owns 95,156 shares of the company’s stock valued at $7,116,000 after buying an additional 81,253 shares in the last quarter. Baer Investment Advisory LLC purchased a new stake in Invesco S&P 500 Equal Weight Utilities ETF in the 1st quarter worth approximately $4,848,000. RM Financial Services LLC purchased a new stake in Invesco S&P 500 Equal Weight Utilities ETF in the 4th quarter worth approximately $3,080,000. Finally, NewEdge Advisors LLC raised its stake in Invesco S&P 500 Equal Weight Utilities ETF by 57.5% during the 2nd quarter. NewEdge Advisors LLC now owns 110,055 shares of the company’s stock worth $7,827,000 after acquiring an additional 40,159 shares during the period.

Invesco S&P 500 Equal Weight Utilities ETF Company Profile

The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is an exchange-traded fund that mostly invests in utilities equity. The fund tracks an equal-weighted index of S&P 500 utilities companies. RSPU was launched on Nov 1, 2006 and is managed by Invesco.