Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $57.64 and traded as low as $56.92. Invesco S&P 500 Equal Weight Technology ETF shares last traded at $57.00, with a volume of 3,302,069 shares trading hands.

Invesco S&P 500 Equal Weight Technology ETF Trading Down 7.0%

The firm has a 50-day simple moving average of $65.07 and a two-hundred day simple moving average of $57.64. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 26.94 and a beta of 1.37.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSPT. Kaydan Wealth Management Inc. boosted its holdings in Invesco S&P 500 Equal Weight Technology ETF by 1.3% during the third quarter. Kaydan Wealth Management Inc. now owns 12,599 shares of the company’s stock valued at $830,000 after acquiring an additional 162 shares during the period. NWF Advisory Services Inc. grew its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 3.4% in the first quarter. NWF Advisory Services Inc. now owns 6,050 shares of the company’s stock valued at $274,000 after purchasing an additional 200 shares during the last quarter. Laurel Wealth Advisors LLC grew its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 3.1% in the third quarter. Laurel Wealth Advisors LLC now owns 6,635 shares of the company’s stock valued at $437,000 after purchasing an additional 200 shares during the last quarter. CX Institutional increased its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 5.5% in the third quarter. CX Institutional now owns 4,772 shares of the company’s stock worth $314,000 after purchasing an additional 247 shares during the period. Finally, Vise Technologies Inc. increased its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 1.5% in the third quarter. Vise Technologies Inc. now owns 19,601 shares of the company’s stock worth $1,291,000 after purchasing an additional 296 shares during the period.

Invesco S&P 500 Equal Weight Technology ETF Company Profile

The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index of S&P 500 technology companies. RSPT was launched on Nov 1, 2006 and is managed by Invesco.