Redmont Wealth Advisors LLC Invests $8.44 Million in Invesco S&P 500 Equal Weight ETF $RSP

Redmont Wealth Advisors LLC acquired a new stake in Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) during the third quarter, Holdings Channel reports. The firm acquired 44,475 shares of the company’s stock, valued at approximately $8,437,000. Invesco S&P 500 Equal Weight ETF comprises 11.7% of Redmont Wealth Advisors LLC’s holdings, making the stock its biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Investment Counsel Co. of Nevada purchased a new position in shares of Invesco S&P 500 Equal Weight ETF during the 2nd quarter valued at $29,000. Tompkins Financial Corp bought a new stake in Invesco S&P 500 Equal Weight ETF in the 3rd quarter worth approximately $32,000. IMA Advisory Services Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 3rd quarter valued at $33,000. Cloud Capital Management LLC purchased a new stake in Invesco S&P 500 Equal Weight ETF during the third quarter valued at about $35,000. Finally, GoalVest Advisory LLC bought a new position in Invesco S&P 500 Equal Weight ETF during the 2nd quarter worth approximately $34,000. 61.18% of the stock is owned by institutional investors.

Invesco S&P 500 Equal Weight ETF Trading Up 0.5%

Shares of NYSEARCA:RSP opened at $203.57 on Thursday. Invesco S&P 500 Equal Weight ETF has a 12 month low of $150.35 and a 12 month high of $205.24. The company has a 50-day moving average price of $197.23 and a 200-day moving average price of $191.35. The company has a market cap of $84.42 billion, a price-to-earnings ratio of 20.10 and a beta of 0.99.

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.