Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG) Sets New 1-Year High – Time to Buy?

Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG) hit a new 52-week high during trading on Monday . The company traded as high as $62.93 and last traded at $62.46, with a volume of 263559 shares changing hands. The stock had previously closed at $60.82.

Invesco S&P 500 Pure Growth ETF Stock Performance

The business has a fifty day simple moving average of $56.25 and a 200 day simple moving average of $50.99. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 24.25 and a beta of 1.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Founders Financial Alliance LLC grew its holdings in Invesco S&P 500 Pure Growth ETF by 354.9% in the 3rd quarter. Founders Financial Alliance LLC now owns 514 shares of the company’s stock valued at $25,000 after buying an additional 401 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Invesco S&P 500 Pure Growth ETF in the 4th quarter valued at $29,000. Arax Advisory Partners bought a new stake in shares of Invesco S&P 500 Pure Growth ETF during the 4th quarter valued at $39,000. Financial Life Planners bought a new stake in shares of Invesco S&P 500 Pure Growth ETF during the 3rd quarter valued at $45,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Invesco S&P 500 Pure Growth ETF during the 4th quarter valued at $47,000.

About Invesco S&P 500 Pure Growth ETF

Guggenheim S&P 500 Pure Growth ETF, formerly Rydex S&P 500 Pure Growth ETF, seeks to replicate as closely as possible the performance of the S&P 500 Pure Growth Index (the Index). The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowings for investment purposes, in the equity securities (and derivatives thereof) included in the Index.