Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 52-Week High – Time to Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $222.96 and last traded at $222.05, with a volume of 21772 shares changing hands. The stock had previously closed at $222.77.

Invesco S&P 500 Equal Weight ETF Stock Performance

The firm has a market cap of $100.38 billion, a PE ratio of 20.10 and a beta of 0.91. The stock has a fifty day moving average price of $214.06 and a 200-day moving average price of $205.30.

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

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Invesco S&P 500 Equal Weight ETF by 7.9% during the fourth quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock worth $6,004,682,000 after purchasing an additional 2,285,526 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Invesco S&P 500 Equal Weight ETF by 3.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,252,217 shares of the company’s stock valued at $5,028,875,000 after purchasing an additional 959,176 shares during the last quarter. Bank of America Corp DE grew its position in Invesco S&P 500 Equal Weight ETF by 16.4% in the first quarter. Bank of America Corp DE now owns 25,370,060 shares of the company’s stock worth $4,869,022,000 after acquiring an additional 3,567,441 shares in the last quarter. Invesco Ltd. increased its position in Invesco S&P 500 Equal Weight ETF by 4.6% during the fourth quarter. Invesco Ltd. now owns 10,144,784 shares of the company’s stock worth $1,943,335,000 after buying an additional 444,846 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in Invesco S&P 500 Equal Weight ETF by 14.3% during the fourth quarter. State of Wisconsin Investment Board now owns 8,485,519 shares of the company’s stock valued at $1,625,486,000 after buying an additional 1,060,181 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors.

Invesco S&P 500 Equal Weight ETF Company Profile

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.