Hidden Cove Wealth Management LLC acquired a new position in Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,749 shares of the company’s stock, valued at approximately $9,933,000. Invesco S&P 500 Equal Weight ETF accounts for 5.3% of Hidden Cove Wealth Management LLC’s portfolio, making the stock its 5th biggest holding.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RSP. Highland Investment Advisors LLC acquired a new position in Invesco S&P 500 Equal Weight ETF during the second quarter valued at $26,000. Brandywine Financial Group boosted its holdings in Invesco S&P 500 Equal Weight ETF by 636.8% in the second quarter. Brandywine Financial Group now owns 140 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at $29,000. Rogco LP acquired a new stake in Invesco S&P 500 Equal Weight ETF during the 2nd quarter worth about $34,000. Finally, Asset Dedication LLC acquired a new stake in Invesco S&P 500 Equal Weight ETF during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 61.18% of the company’s stock.
Invesco S&P 500 Equal Weight ETF Trading Down 0.3%
Shares of NYSEARCA RSP traded down $0.69 during trading on Monday, reaching $213.40. 5,971,682 shares of the company traded hands, compared to its average volume of 11,953,941. The firm’s fifty day simple moving average is $215.81 and its 200 day simple moving average is $210.53. The stock has a market cap of $98.62 billion, a P/E ratio of 20.10 and a beta of 0.92. Invesco S&P 500 Equal Weight ETF has a 12-month low of $182.11 and a 12-month high of $223.43.
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.
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