Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Sees Significant Drop in Short Interest

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 15,289 shares, a decline of 19.2% from the February 26th total of 18,911 shares. Based on an average trading volume of 29,491 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSPU. Bank of America Corp DE boosted its holdings in Invesco S&P 500 Equal Weight Utilities ETF by 562.9% during the second quarter. Bank of America Corp DE now owns 412,381 shares of the company’s stock worth $29,329,000 after buying an additional 350,174 shares during the last quarter. Denver Wealth Management Inc. raised its position in shares of Invesco S&P 500 Equal Weight Utilities ETF by 584.4% in the 4th quarter. Denver Wealth Management Inc. now owns 95,156 shares of the company’s stock valued at $7,116,000 after acquiring an additional 81,253 shares during the period. RM Financial Services LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight Utilities ETF in the 4th quarter valued at approximately $3,080,000. NewEdge Advisors LLC boosted its stake in Invesco S&P 500 Equal Weight Utilities ETF by 57.5% during the 2nd quarter. NewEdge Advisors LLC now owns 110,055 shares of the company’s stock worth $7,827,000 after acquiring an additional 40,159 shares during the last quarter. Finally, Redstone Wealth Management LLC bought a new position in Invesco S&P 500 Equal Weight Utilities ETF during the 4th quarter worth approximately $2,629,000.

Invesco S&P 500 Equal Weight Utilities ETF Stock Performance

Shares of Invesco S&P 500 Equal Weight Utilities ETF stock opened at $81.11 on Wednesday. The firm has a fifty day moving average of $80.23 and a two-hundred day moving average of $77.85. The stock has a market capitalization of $533.70 million, a price-to-earnings ratio of 18.42 and a beta of 0.61. Invesco S&P 500 Equal Weight Utilities ETF has a 52 week low of $62.64 and a 52 week high of $84.52.

About Invesco S&P 500 Equal Weight Utilities ETF

The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is an exchange-traded fund that mostly invests in utilities equity. The fund tracks an equal-weighted index of S&P 500 utilities companies. RSPU was launched on Nov 1, 2006 and is managed by Invesco.