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

by · The Markets Daily

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP – Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $200.84 and last traded at $200.3470, with a volume of 9883051 shares traded. The stock had previously closed at $198.57.

Invesco S&P 500 Equal Weight ETF Stock Up 1.1%

The company’s 50 day moving average price is $194.82 and its two-hundred day moving average price is $190.11. The firm has a market cap of $83.89 billion, a PE ratio of 20.10 and a beta of 0.99.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RSP. GRIMES & Co WEALTH MANAGEMENT LLC lifted its position in Invesco S&P 500 Equal Weight ETF by 107.0% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 265,995 shares of the company’s stock valued at $50,459,000 after acquiring an additional 137,493 shares during the last quarter. CMG Global Holdings LLC increased its position in shares of Invesco S&P 500 Equal Weight ETF by 13.6% during the third quarter. CMG Global Holdings LLC now owns 35,694 shares of the company’s stock worth $6,741,000 after purchasing an additional 4,262 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 23.2% during the 3rd quarter. Sowell Financial Services LLC now owns 20,356 shares of the company’s stock valued at $3,862,000 after purchasing an additional 3,829 shares during the last quarter. Argent Advisors Inc. lifted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 5.8% during the 3rd quarter. Argent Advisors Inc. now owns 57,461 shares of the company’s stock valued at $10,900,000 after purchasing an additional 3,135 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Invesco S&P 500 Equal Weight ETF by 46.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 116,894 shares of the company’s stock worth $21,244,000 after purchasing an additional 37,119 shares in the last quarter. Institutional investors own 61.18% of the company’s stock.

Invesco S&P 500 Equal Weight ETF Company Profile

(Get Free Report)

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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