Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 52-Week High – Time to Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $202.82 and last traded at $202.38, with a volume of 14584612 shares. The stock had previously closed at $202.26.

Invesco S&P 500 Equal Weight ETF Stock Down 1.3%

The company has a 50-day moving average of $196.32 and a 200-day moving average of $190.79. The company has a market cap of $83.27 billion, a PE ratio of 20.10 and a beta of 0.99.

Institutional Trading of Invesco S&P 500 Equal Weight ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in Invesco S&P 500 Equal Weight ETF by 3.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,252,217 shares of the company’s stock valued at $5,028,875,000 after buying an additional 959,176 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Invesco S&P 500 Equal Weight ETF by 11.7% during the second quarter. JPMorgan Chase & Co. now owns 5,646,560 shares of the company’s stock valued at $1,026,206,000 after acquiring an additional 589,365 shares during the last quarter. LPL Financial LLC lifted its holdings in Invesco S&P 500 Equal Weight ETF by 7.1% during the fourth quarter. LPL Financial LLC now owns 5,486,948 shares of the company’s stock worth $1,051,080,000 after acquiring an additional 362,412 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Invesco S&P 500 Equal Weight ETF by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,579,650 shares of the company’s stock worth $685,718,000 after purchasing an additional 9,309 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in Invesco S&P 500 Equal Weight ETF by 11.8% in the fourth quarter. Cerity Partners LLC now owns 1,963,478 shares of the company’s stock worth $376,124,000 after purchasing an additional 207,096 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.