Alta Wealth Advisors LLC Takes $5.22 Million Position in Invesco S&P 500 Equal Weight ETF $RSP

Alta Wealth Advisors LLC acquired a new position in shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 27,525 shares of the company’s stock, valued at approximately $5,222,000. Invesco S&P 500 Equal Weight ETF accounts for about 1.9% of Alta Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. KPP Advisory Services LLC increased its stake in Invesco S&P 500 Equal Weight ETF by 5.3% during the third quarter. KPP Advisory Services LLC now owns 20,035 shares of the company’s stock valued at $3,801,000 after purchasing an additional 1,000 shares during the last quarter. Purkiss Capital Advisors LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 21.5% in the 3rd quarter. Purkiss Capital Advisors LLC now owns 12,036 shares of the company’s stock valued at $2,283,000 after buying an additional 2,131 shares during the period. National Wealth Management Group LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight ETF by 21.2% in the 3rd quarter. National Wealth Management Group LLC now owns 3,803 shares of the company’s stock valued at $722,000 after buying an additional 665 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Invesco S&P 500 Equal Weight ETF by 12.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 22,772 shares of the company’s stock valued at $4,320,000 after buying an additional 2,440 shares during the last quarter. Finally, Instrumental Wealth LLC raised its stake in Invesco S&P 500 Equal Weight ETF by 11.8% during the third quarter. Instrumental Wealth LLC now owns 40,677 shares of the company’s stock worth $7,628,000 after acquiring an additional 4,302 shares during the period. Institutional investors and hedge funds own 61.18% of the company’s stock.

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

Shares of NYSEARCA RSP opened at $199.24 on Tuesday. The firm’s 50-day moving average price is $193.25 and its two-hundred day moving average price is $189.48. Invesco S&P 500 Equal Weight ETF has a 52-week low of $150.35 and a 52-week high of $200.78. The stock has a market capitalization of $82.68 billion, a P/E ratio of 20.10 and a beta of 0.99.

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.