Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Hits New 12-Month High – Here’s Why

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares reached a new 52-week high on Tuesday . The company traded as high as $215.83 and last traded at $215.83, with a volume of 13317 shares traded. The stock had previously closed at $215.00.

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

The company’s 50-day simple moving average is $207.59 and its 200-day simple moving average is $201.10. The stock has a market capitalization of $95.26 billion, a price-to-earnings ratio of 20.10 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RSP. Dorato Capital Management acquired a new position in Invesco S&P 500 Equal Weight ETF in the fourth quarter valued at approximately $26,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 4th quarter worth approximately $29,000. Brandywine Financial Group increased its stake in shares of Invesco S&P 500 Equal Weight ETF by 636.8% in the 2nd quarter. Brandywine Financial Group now owns 140 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Hurley Capital LLC increased its stake in shares of Invesco S&P 500 Equal Weight ETF by 200.0% in the 4th quarter. Hurley Capital LLC now owns 177 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in shares of Invesco S&P 500 Equal Weight ETF during the 1st quarter valued at $36,000. 61.18% of the stock is owned by institutional investors.

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.