Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 12-Month High – Here’s Why

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

Invesco S&P 500 Equal Weight ETF Stock Performance

The business has a 50-day moving average of $191.03 and a 200-day moving average of $188.44. The stock has a market capitalization of $77.87 billion, a price-to-earnings ratio of 20.10 and a beta of 0.99.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight ETF

A number of institutional investors have recently added to or reduced their stakes in RSP. Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco S&P 500 Equal Weight ETF by 2.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 25,293,041 shares of the company’s stock worth $4,798,090,000 after purchasing an additional 635,369 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Invesco S&P 500 Equal Weight ETF by 11.7% during the second quarter. JPMorgan Chase & Co. now owns 5,646,560 shares of the company’s stock worth $1,026,206,000 after buying an additional 589,365 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Invesco S&P 500 Equal Weight ETF by 119.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,027,552 shares of the company’s stock worth $368,487,000 after buying an additional 1,102,322 shares in the last quarter. Phoenix Financial Ltd. grew its position in Invesco S&P 500 Equal Weight ETF by 13.8% during the third quarter. Phoenix Financial Ltd. now owns 1,768,432 shares of the company’s stock worth $335,472,000 after buying an additional 214,432 shares during the period. Finally, Cerity Partners LLC increased its holdings in Invesco S&P 500 Equal Weight ETF by 3.2% in the third quarter. Cerity Partners LLC now owns 1,756,382 shares of the company’s stock valued at $333,186,000 after buying an additional 54,925 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.