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

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high during trading on Tuesday . The company traded as high as $216.93 and last traded at $216.75, with a volume of 1162560 shares. The stock had previously closed at $215.18.

Invesco S&P 500 Equal Weight ETF Stock Performance

The stock has a market cap of $97.62 billion, a PE ratio of 20.10 and a beta of 0.91. The firm has a 50-day moving average price of $210.77 and a 200-day moving average price of $203.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RSP. Brighton Jones LLC lifted its position in Invesco S&P 500 Equal Weight ETF by 3.4% in the 4th quarter. Brighton Jones LLC now owns 7,516 shares of the company’s stock valued at $1,317,000 after acquiring an additional 246 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth $83,931,000. Bison Wealth LLC raised its stake in shares of Invesco S&P 500 Equal Weight ETF by 25.8% in the fourth quarter. Bison Wealth LLC now owns 20,957 shares of the company’s stock worth $3,672,000 after purchasing an additional 4,295 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Invesco S&P 500 Equal Weight ETF in the first quarter worth $11,553,000. Finally, Gamco Investors INC. ET AL bought a new position in shares of Invesco S&P 500 Equal Weight ETF during the second quarter valued at $279,000. Institutional investors own 61.18% of the company’s stock.

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). 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.