Invesco S&P 500 Equal Weight Energy ETF (NYSEARCA:RSPG) Reaches New 52-Week High – Should You Buy?

Invesco S&P 500 Equal Weight Energy ETF (NYSEARCA:RSPG) hit a new 52-week high on Tuesday . The stock traded as high as $116.43 and last traded at $115.82, with a volume of 2617 shares. The stock had previously closed at $114.96.

Invesco S&P 500 Equal Weight Energy ETF Trading Up 0.6%

The company has a market capitalization of $620.15 million, a price-to-earnings ratio of 13.87 and a beta of 0.49. The firm’s 50 day simple moving average is $106.06 and its 200-day simple moving average is $104.36.

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

A number of hedge funds have recently added to or reduced their stakes in the company. Lee Johnson Capital Management LLC acquired a new position in Invesco S&P 500 Equal Weight Energy ETF during the 1st quarter worth approximately $6,823,000. Ocean Park Asset Management LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Energy ETF in the first quarter valued at approximately $4,501,000. BNP Paribas Financial Markets grew its holdings in Invesco S&P 500 Equal Weight Energy ETF by 402.6% during the second quarter. BNP Paribas Financial Markets now owns 50,256 shares of the company’s stock worth $3,743,000 after acquiring an additional 40,256 shares during the period. Empowered Funds LLC purchased a new position in Invesco S&P 500 Equal Weight Energy ETF in the first quarter worth $1,862,000. Finally, Sykon Capital LLC acquired a new stake in Invesco S&P 500 Equal Weight Energy ETF in the fourth quarter valued at $1,332,000.

About Invesco S&P 500 Equal Weight Energy ETF

The Invesco S&P 500 Equal Weight Energy ETF (RSPG) is an exchange-traded fund that is based on the S&P 500 Equal Weight Energy Plus index. The fund tracks an equal-weighted index of US energy companies in the S&P 500. RSPG was launched on Nov 1, 2006 and is managed by Invesco.