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)’s stock price hit a new 52-week high on Monday . The stock traded as high as $222.96 and last traded at $222.05, with a volume of 21772 shares changing hands. The stock had previously closed at $222.77.

Invesco S&P 500 Equal Weight ETF Trading Down 0.3%

The firm’s 50-day moving average price is $214.06 and its 200-day moving average price is $205.30. The stock has a market capitalization of $100.38 billion, a PE ratio of 20.10 and a beta of 0.91.

Institutional Trading of Invesco S&P 500 Equal Weight ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Invesco S&P 500 Equal Weight ETF by 16.4% in the 1st quarter. Bank of America Corp DE now owns 25,370,060 shares of the company’s stock valued at $4,869,022,000 after acquiring an additional 3,567,441 shares during the last quarter. Morgan Stanley boosted its stake in shares of Invesco S&P 500 Equal Weight ETF by 7.9% in the 4th quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock valued at $6,004,682,000 after buying an additional 2,285,526 shares during the period. Varma Mutual Pension Insurance Co purchased a new position in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter valued at about $327,184,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Invesco S&P 500 Equal Weight ETF during the fourth quarter worth about $306,496,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at about $287,168,000. Institutional investors own 61.18% of the company’s stock.

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.