Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 1-Year High – What’s Next?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares reached a new 52-week high on Tuesday . The stock traded as high as $215.83 and last traded at $215.83, with a volume of 13317 shares changing hands. The stock had previously closed at $215.00.

Invesco S&P 500 Equal Weight ETF Price Performance

The stock has a market cap of $95.26 billion, a price-to-earnings ratio of 20.10 and a beta of 0.91. The firm’s fifty day moving average price is $207.59 and its two-hundred day moving average price is $201.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Invesco S&P 500 Equal Weight ETF by 16.4% in the first quarter. Bank of America Corp DE now owns 25,370,060 shares of the company’s stock valued at $4,869,022,000 after acquiring an additional 3,567,441 shares during the period. Morgan Stanley grew its position in Invesco S&P 500 Equal Weight ETF by 7.9% in the 4th quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock valued at $6,004,682,000 after purchasing an additional 2,285,526 shares during the period. Varma Mutual Pension Insurance Co acquired a new stake in Invesco S&P 500 Equal Weight ETF in the 4th quarter valued at $327,184,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Invesco S&P 500 Equal Weight ETF during the 4th quarter valued at $306,496,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in Invesco S&P 500 Equal Weight ETF during the 4th quarter valued at $287,168,000. 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.