Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sets New 1-Year High – Should You Buy?

Shares of Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) hit a new 52-week high on Thursday. The stock traded as high as $67.65 and last traded at $67.3680, with a volume of 473585 shares changing hands. The stock had previously closed at $65.86.

Invesco S&P 500 Equal Weight Technology ETF Trading Up 2.5%

The firm has a market capitalization of $6.18 billion, a P/E ratio of 26.94 and a beta of 1.34. The company’s fifty day simple moving average is $63.91 and its 200 day simple moving average is $59.10.

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

Several large investors have recently added to or reduced their stakes in RSPT. Bank of America Corp DE increased its holdings in Invesco S&P 500 Equal Weight Technology ETF by 26.7% in the 1st quarter. Bank of America Corp DE now owns 5,230,024 shares of the company’s stock valued at $236,711,000 after acquiring an additional 1,102,277 shares during the last quarter. RMG Wealth Management LLC bought a new position in shares of Invesco S&P 500 Equal Weight Technology ETF in the first quarter worth about $66,437,000. Envestnet Asset Management Inc. grew its stake in Invesco S&P 500 Equal Weight Technology ETF by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 296,357 shares of the company’s stock worth $19,115,000 after purchasing an additional 15,633 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Invesco S&P 500 Equal Weight Technology ETF by 54.6% in the first quarter. Cetera Investment Advisers now owns 341,701 shares of the company’s stock valued at $15,465,000 after acquiring an additional 120,625 shares in the last quarter. Finally, Prasad Wealth Partners LLC raised its holdings in shares of Invesco S&P 500 Equal Weight Technology ETF by 1.8% in the 1st quarter. Prasad Wealth Partners LLC now owns 331,655 shares of the company’s stock valued at $15,011,000 after purchasing an additional 5,931 shares in the last quarter.

Invesco S&P 500 Equal Weight Technology ETF Company Profile

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