Synovus Financial Corp Increases Position in Invesco S&P 500 Equal Weight ETF $RSP

Synovus Financial Corp grew its holdings in shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 680,638 shares of the company’s stock after purchasing an additional 56,823 shares during the quarter. Invesco S&P 500 Equal Weight ETF comprises approximately 1.5% of Synovus Financial Corp’s portfolio, making the stock its 14th biggest position. Synovus Financial Corp’s holdings in Invesco S&P 500 Equal Weight ETF were worth $129,119,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Investment Counsel Co. of Nevada purchased a new stake in Invesco S&P 500 Equal Weight ETF in the 2nd quarter worth approximately $29,000. Tompkins Financial Corp acquired a new stake in Invesco S&P 500 Equal Weight ETF in the 3rd quarter valued at $32,000. IMA Advisory Services Inc. acquired a new position in Invesco S&P 500 Equal Weight ETF during the third quarter worth $33,000. GoalVest Advisory LLC acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the second quarter valued at approximately $34,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Invesco S&P 500 Equal Weight ETF in the third quarter valued at approximately $35,000. 61.18% of the stock is owned by institutional investors and hedge funds.

Invesco S&P 500 Equal Weight ETF Stock Up 0.5%

Invesco S&P 500 Equal Weight ETF stock opened at $203.57 on Thursday. The company has a fifty day simple moving average of $197.23 and a 200-day simple moving average of $191.35. The firm has a market capitalization of $84.42 billion, a price-to-earnings ratio of 20.10 and a beta of 0.99. Invesco S&P 500 Equal Weight ETF has a 52-week low of $150.35 and a 52-week high of $205.24.

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.