Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Sets New 1-Year High – Time to Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $221.23 and last traded at $220.89, with a volume of 914891 shares changing hands. The stock had previously closed at $220.22.

Invesco S&P 500 Equal Weight ETF Stock Performance

The company has a market capitalization of $99.78 billion, a price-to-earnings ratio of 20.10 and a beta of 0.91. The firm has a fifty day moving average price of $213.08 and a 200-day moving average price of $204.67.

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

Several hedge funds have recently bought and sold shares of the company. Nalls Sherbakoff Group LLC bought a new position in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at approximately $29,000. Brandywine Financial Group lifted its stake in Invesco S&P 500 Equal Weight ETF by 636.8% during the second quarter. Brandywine Financial Group now owns 140 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Hurley Capital LLC lifted its stake in Invesco S&P 500 Equal Weight ETF by 200.0% during the fourth quarter. Hurley Capital LLC now owns 177 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 1st quarter valued at $36,000. Finally, Basepoint Wealth LLC bought a new position in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter valued at $40,000. 61.18% of the stock is owned by institutional investors.

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.