Invesco S&P 500 Equal Weight Health Care ETF (NYSEARCA:RSPH) Sets New 52-Week High – Time to Buy?

Invesco S&P 500 Equal Weight Health Care ETF (NYSEARCA:RSPH) shares hit a new 52-week high on Wednesday. The stock traded as high as $38.26 and last traded at $38.06, with a volume of 2,482 shares. The stock had previously closed at $37.76.

Invesco S&P 500 Equal Weight Health Care ETF Stock Up 0.6%

The stock’s fifty day simple moving average is $36.91 and its 200-day simple moving average is $33.68. The company has a market capitalization of $899.37 million, a PE ratio of 21.06 and a beta of 0.78.

Hedge Funds Weigh In On Invesco S&P 500 Equal Weight Health Care ETF

Several hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in Invesco S&P 500 Equal Weight Health Care ETF in the 3rd quarter valued at $7,555,000. Cetera Investment Advisers lifted its stake in shares of Invesco S&P 500 Equal Weight Health Care ETF by 27.0% during the 1st quarter. Cetera Investment Advisers now owns 153,515 shares of the company’s stock worth $4,635,000 after purchasing an additional 32,655 shares during the period. Optas LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight Health Care ETF by 99.6% during the first quarter. Optas LLC now owns 60,308 shares of the company’s stock worth $1,821,000 after purchasing an additional 30,098 shares during the last quarter. First Heartland Consultants Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight Health Care ETF during the third quarter worth $696,000. Finally, Royal Bank of Canada boosted its holdings in shares of Invesco S&P 500 Equal Weight Health Care ETF by 4.9% during the first quarter. Royal Bank of Canada now owns 350,011 shares of the company’s stock worth $10,568,000 after purchasing an additional 16,485 shares during the last quarter.

About Invesco S&P 500 Equal Weight Health Care ETF

The Invesco S&P 500 Equal Weight Health Care ETF (RSPH) is an exchange-traded fund that mostly invests in health care equity. The fund tracks an equal-weighted index of US health care companies taken from the S&P 500 Index. RSPH was launched on Nov 1, 2006 and is managed by Invesco.