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

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares hit a new 52-week high on Friday . The stock traded as high as $210.95 and last traded at $209.89, with a volume of 2151900 shares trading hands. The stock had previously closed at $209.75.

Invesco S&P 500 Equal Weight ETF Stock Performance

The company’s fifty day moving average price is $203.02 and its 200-day moving average price is $198.65. The stock has a market cap of $90.98 billion, a P/E ratio of 20.10 and a beta of 0.91.

Institutional Trading of Invesco S&P 500 Equal Weight ETF

Several institutional investors have recently added to or reduced their stakes in the company. Brookstone Capital Management increased its position in Invesco S&P 500 Equal Weight ETF by 2.5% during the 4th quarter. Brookstone Capital Management now owns 269,874 shares of the company’s stock valued at $51,697,000 after purchasing an additional 6,481 shares during the period. Banta Asset Management LP purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth approximately $1,654,000. Allen Investment Management LLC boosted its stake in shares of Invesco S&P 500 Equal Weight ETF by 32.8% during the fourth quarter. Allen Investment Management LLC now owns 142,450 shares of the company’s stock valued at $27,286,000 after purchasing an additional 35,220 shares in the last quarter. Empirical Asset Management LLC boosted its stake in shares of Invesco S&P 500 Equal Weight ETF by 417.0% during the third quarter. Empirical Asset Management LLC now owns 11,544 shares of the company’s stock valued at $2,190,000 after purchasing an additional 9,311 shares in the last quarter. Finally, Ballast Inc. increased its holdings in Invesco S&P 500 Equal Weight ETF by 3.5% during the third quarter. Ballast Inc. now owns 91,721 shares of the company’s stock valued at $17,399,000 after buying an additional 3,118 shares during the period. Institutional investors own 61.18% of the company’s stock.

Invesco S&P 500 Equal Weight ETF Company Profile

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.