Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 1-Year High – Here’s What Happened

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $206.05 and last traded at $205.81, with a volume of 695956 shares. The stock had previously closed at $204.71.

Invesco S&P 500 Equal Weight ETF Price Performance

The company’s 50-day moving average is $198.26 and its 200-day moving average is $196.36. The firm has a market capitalization of $88.88 billion, a price-to-earnings ratio of 20.10 and a beta of 0.92.

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

Hedge funds have recently modified their holdings of the stock. Dorato Capital Management acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the fourth quarter worth approximately $26,000. NBZ Investment Advisors LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the third quarter worth approximately $26,000. Aviso Financial Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the third quarter worth approximately $28,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the fourth quarter worth approximately $29,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the third quarter worth approximately $33,000. 61.18% of the stock is owned by institutional investors and hedge funds.

About Invesco S&P 500 Equal Weight ETF

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.