Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 1-Year High – Still a Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $193.60 and last traded at $193.17, with a volume of 17960217 shares traded. The stock had previously closed at $190.49.

Invesco S&P 500 Equal Weight ETF Stock Down 0.7%

The company has a market capitalization of $74.81 billion, a PE ratio of 20.10 and a beta of 0.99. The firm’s 50 day simple moving average is $189.04 and its 200 day simple moving average is $185.98.

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

Several hedge funds have recently added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new position in shares of Invesco S&P 500 Equal Weight ETF during the second quarter valued at approximately $25,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 1st quarter worth approximately $26,000. NBZ Investment Advisors LLC purchased a new position in Invesco S&P 500 Equal Weight ETF during the 3rd quarter valued at $26,000. Aviso Financial Inc. purchased a new position in Invesco S&P 500 Equal Weight ETF during the 3rd quarter valued at $28,000. Finally, Investment Counsel Co. of Nevada bought a new position in Invesco S&P 500 Equal Weight ETF in the 2nd quarter valued at $29,000. 61.18% of the stock is currently owned by institutional investors.

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).