Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Sees Large Volume Increase – Still a Buy?

Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) saw unusually-high trading volume on Wednesday . Approximately 528,982 shares traded hands during trading, an increase of 166% from the previous session’s volume of 198,702 shares.The stock last traded at $59.50 and had previously closed at $58.77.

Invesco S&P 500 Equal Weight Industrials ETF Stock Performance

The stock has a fifty day moving average of $59.58 and a 200-day moving average of $59.01. The company has a market cap of $966.17 million, a PE ratio of 22.94 and a beta of 1.03.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Industrials ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Invesco S&P 500 Equal Weight Industrials ETF by 3.1% during the 1st quarter. Bank of America Corp DE now owns 973,290 shares of the company’s stock worth $56,042,000 after buying an additional 29,387 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 367.2% in the first quarter. Royal Bank of Canada now owns 469,946 shares of the company’s stock valued at $27,059,000 after acquiring an additional 369,358 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Invesco S&P 500 Equal Weight Industrials ETF in the 1st quarter valued at about $238,000. Blue Chip Partners LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Industrials ETF in the 1st quarter valued at about $822,000. Finally, Lido Advisors LLC raised its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 1.8% in the 1st quarter. Lido Advisors LLC now owns 21,435 shares of the company’s stock valued at $1,234,000 after purchasing an additional 369 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.