Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Sees Large Volume Increase – Time to Buy?

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) saw unusually-high trading volume on Friday . Approximately 60,848 shares were traded during trading, an increase of 22% from the previous session’s volume of 49,928 shares.The stock last traded at $81.5170 and had previously closed at $78.97.

Invesco S&P 500 Equal Weight Utilities ETF Price Performance

The business’s 50-day simple moving average is $75.62 and its two-hundred day simple moving average is $76.14. The stock has a market capitalization of $542.26 million, a price-to-earnings ratio of 18.42 and a beta of 0.61.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RSPU. Bank of America Corp DE raised its stake in shares of Invesco S&P 500 Equal Weight Utilities ETF by 562.9% during the second quarter. Bank of America Corp DE now owns 412,381 shares of the company’s stock valued at $29,329,000 after purchasing an additional 350,174 shares during the period. Denver Wealth Management Inc. grew its stake in Invesco S&P 500 Equal Weight Utilities ETF by 584.4% during the 4th quarter. Denver Wealth Management Inc. now owns 95,156 shares of the company’s stock valued at $7,116,000 after purchasing an additional 81,253 shares in the last quarter. RM Financial Services LLC acquired a new position in shares of Invesco S&P 500 Equal Weight Utilities ETF in the 4th quarter valued at approximately $3,080,000. NewEdge Advisors LLC boosted its stake in shares of Invesco S&P 500 Equal Weight Utilities ETF by 57.5% during the 2nd quarter. NewEdge Advisors LLC now owns 110,055 shares of the company’s stock valued at $7,827,000 after buying an additional 40,159 shares during the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Invesco S&P 500 Equal Weight Utilities ETF by 15,253.8% during the second quarter. Bogart Wealth LLC now owns 36,849 shares of the company’s stock worth $2,621,000 after buying an additional 36,609 shares in the last quarter.

Invesco S&P 500 Equal Weight Utilities ETF Company Profile

The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is an exchange-traded fund that mostly invests in utilities equity. The fund tracks an equal-weighted index of S&P 500 utilities companies. RSPU was launched on Nov 1, 2006 and is managed by Invesco.