Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Hits New 1-Year High – Should You Buy?

Shares of Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $63.50 and last traded at $62.67, with a volume of 531 shares trading hands. The stock had previously closed at $62.95.

Invesco S&P 500 Equal Weight Industrials ETF Stock Up 0.2%

The stock has a market capitalization of $964.91 million, a price-to-earnings ratio of 22.94 and a beta of 1.09. The stock’s 50-day simple moving average is $58.85 and its 200 day simple moving average is $56.72.

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

A number of large investors have recently bought and sold shares of RSPN. Goldman Sachs Group Inc. increased its holdings in Invesco S&P 500 Equal Weight Industrials ETF by 235.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,422,350 shares of the company’s stock valued at $137,178,000 after purchasing an additional 1,700,000 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 11.1% during the third quarter. Bank of America Corp DE now owns 908,585 shares of the company’s stock worth $50,972,000 after purchasing an additional 90,512 shares during the last quarter. Affinity Wealth Management LLC grew its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 0.7% during the fourth quarter. Affinity Wealth Management LLC now owns 633,237 shares of the company’s stock worth $35,860,000 after purchasing an additional 4,606 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Invesco S&P 500 Equal Weight Industrials ETF by 1.0% in the third quarter. Ameriprise Financial Inc. now owns 275,182 shares of the company’s stock valued at $15,425,000 after buying an additional 2,843 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 0.6% in the third quarter. NewEdge Advisors LLC now owns 257,564 shares of the company’s stock valued at $14,449,000 after buying an additional 1,450 shares during 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.