Granite Bay Wealth Management LLC Makes New Investment in Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)

Granite Bay Wealth Management LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 133,666 shares of the company’s stock, valued at approximately $23,155,000. Invesco S&P 500 Equal Weight ETF comprises approximately 8.0% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Invesco S&P 500 Equal Weight ETF by 105.4% during the fourth quarter. Van ECK Associates Corp now owns 152 shares of the company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the fourth quarter worth $28,000. Cambridge Financial Group Inc. acquired a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at $28,000. Joseph Group Capital Management acquired a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at $29,000. Finally, Bridge Generations Wealth Management LLC acquired a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at $29,000.

Invesco S&P 500 Equal Weight ETF Stock Up 0.8%

NYSEARCA RSP opened at $178.04 on Wednesday. The company has a market capitalization of $71.97 billion, a price-to-earnings ratio of 20.59 and a beta of 0.99. Invesco S&P 500 Equal Weight ETF has a twelve month low of $150.35 and a twelve month high of $188.16. The stock has a fifty day simple moving average of $169.64 and a 200 day simple moving average of $175.96.

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).