Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Reaches New 52-Week High – Still a Buy?

Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) shares reached a new 52-week high on Thursday . The stock traded as high as $61.07 and last traded at $60.85, with a volume of 290329 shares. The stock had previously closed at $59.63.

Invesco S&P 500 Equal Weight Industrials ETF Price Performance

The business’s fifty day moving average price is $57.12 and its 200-day moving average price is $56.11. The stock has a market capitalization of $928.57 million, a price-to-earnings ratio of 22.94 and a beta of 1.09.

Institutional Trading of Invesco S&P 500 Equal Weight Industrials ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RFP Financial Group LLC bought a new position in shares of Invesco S&P 500 Equal Weight Industrials ETF in the third quarter valued at approximately $8,500,000. Wealth Enhancement Advisory Services LLC bought a new stake in Invesco S&P 500 Equal Weight Industrials ETF during the second quarter worth $7,054,000. Bank of America Corp DE raised its position in Invesco S&P 500 Equal Weight Industrials ETF by 11.1% in the 3rd quarter. Bank of America Corp DE now owns 908,585 shares of the company’s stock valued at $50,972,000 after buying an additional 90,512 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Invesco S&P 500 Equal Weight Industrials ETF by 110.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 159,001 shares of the company’s stock valued at $8,511,000 after acquiring an additional 83,393 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Invesco S&P 500 Equal Weight Industrials ETF by 55.6% during the 2nd quarter. Raymond James Financial Inc. now owns 227,096 shares of the company’s stock valued at $12,156,000 after acquiring an additional 81,168 shares in the last quarter.

About Invesco S&P 500 Equal Weight Industrials ETF

The Invesco S&P 500 Equal Weight Industrials ETF (RSPN) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks an equal-weighted index of industrial US stocks drawn from the S&P 500. RSPN was launched on Nov 1, 2006 and is managed by Invesco.