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

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $218.66 and last traded at $218.66, with a volume of 3995344 shares trading hands. The stock had previously closed at $217.11.

Invesco S&P 500 Equal Weight ETF Trading Up 1.3%

The business’s fifty day moving average price is $211.93 and its 200 day moving average price is $203.92. The firm has a market capitalization of $99.44 billion, a price-to-earnings ratio of 20.10 and a beta of 0.91.

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

Several hedge funds have recently modified their holdings of the stock. Brandywine Financial Group lifted its stake in shares of Invesco S&P 500 Equal Weight ETF by 636.8% in the 2nd quarter. Brandywine Financial Group now owns 140 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the 4th quarter worth $29,000. Hurley Capital LLC lifted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 200.0% in the fourth quarter. Hurley Capital LLC now owns 177 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Asset Dedication LLC acquired a new stake in Invesco S&P 500 Equal Weight ETF during the 1st quarter valued at $36,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF during the fourth quarter valued at $40,000. 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.