Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Sets New 12-Month High – Still a Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $189.57 and last traded at $189.76, with a volume of 5214687 shares. The stock had previously closed at $185.87.

Invesco S&P 500 Equal Weight ETF Stock Performance

The firm’s fifty day simple moving average is $183.61 and its 200 day simple moving average is $176.92. The stock has a market capitalization of $75.12 billion, a price-to-earnings ratio of 20.10 and a beta of 1.05.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSP. Nova Wealth Management Inc. acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the second quarter worth about $25,000. Uniplan Investment Counsel Inc. acquired a new stake in Invesco S&P 500 Equal Weight ETF in the 1st quarter valued at approximately $26,000. Investment Counsel Co. of Nevada bought a new stake in Invesco S&P 500 Equal Weight ETF in the 2nd quarter valued at approximately $29,000. Richardson Capital Management LLC acquired a new position in Invesco S&P 500 Equal Weight ETF during the 1st quarter worth approximately $30,000. Finally, OLD Second National Bank of Aurora acquired a new position in Invesco S&P 500 Equal Weight ETF during the 1st quarter worth approximately $31,000. 61.18% of the stock is owned by institutional investors and hedge funds.

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).