Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Stock Price Up 0.4% – Still a Buy?

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU)’s share price shot up 0.4% during trading on Wednesday. The company traded as high as $75.11 and last traded at $74.80. 39,516 shares traded hands during trading, a decline of 22% from the average session volume of 50,368 shares. The stock had previously closed at $74.50.

Invesco S&P 500 Equal Weight Utilities ETF Price Performance

The business has a 50-day simple moving average of $74.28 and a two-hundred day simple moving average of $78.06. The stock has a market cap of $517.59 million, a price-to-earnings ratio of 18.42 and a beta of 0.55.

Institutional Trading of Invesco S&P 500 Equal Weight Utilities ETF

A number of hedge funds have recently made changes to their positions in RSPU. Bank of America Corp DE increased its holdings in shares of Invesco S&P 500 Equal Weight Utilities ETF by 2.6% during the 1st quarter. Bank of America Corp DE now owns 426,932 shares of the company’s stock worth $34,628,000 after acquiring an additional 10,829 shares during the last quarter. Kestra Advisory Services LLC raised its stake in Invesco S&P 500 Equal Weight Utilities ETF by 5.6% in the 1st quarter. Kestra Advisory Services LLC now owns 117,360 shares of the company’s stock valued at $9,519,000 after acquiring an additional 6,205 shares during the period. Studio Investment Management LLC lifted its holdings in Invesco S&P 500 Equal Weight Utilities ETF by 5.5% during the 2nd quarter. Studio Investment Management LLC now owns 99,554 shares of the company’s stock valued at $8,077,000 after purchasing an additional 5,160 shares during the last quarter. Baer Investment Advisory LLC acquired a new stake in Invesco S&P 500 Equal Weight Utilities ETF during the 1st quarter valued at $4,848,000. Finally, Redstone Wealth Management LLC lifted its holdings in Invesco S&P 500 Equal Weight Utilities ETF by 5.1% during the 3rd quarter. Redstone Wealth Management LLC now owns 57,951 shares of the company’s stock valued at $4,062,000 after purchasing an additional 2,810 shares during the last quarter.

About Invesco S&P 500 Equal Weight Utilities ETF

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.