Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 12-Month High – Time to Buy?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares hit a new 52-week high on Monday . The stock traded as high as $205.24 and last traded at $204.59, with a volume of 21816246 shares trading hands. The stock had previously closed at $204.97.

Invesco S&P 500 Equal Weight ETF Stock Up 0.4%

The company has a market capitalization of $84.14 billion, a PE ratio of 20.10 and a beta of 0.99. The business has a 50 day simple moving average of $199.31 and a 200 day simple moving average of $192.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSP. Morgan Stanley increased its stake in shares of Invesco S&P 500 Equal Weight ETF by 7.9% in the 4th quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock valued at $6,004,682,000 after purchasing an additional 2,285,526 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Invesco S&P 500 Equal Weight ETF by 3.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,252,217 shares of the company’s stock worth $5,028,875,000 after buying an additional 959,176 shares in the last quarter. Invesco Ltd. boosted its position in Invesco S&P 500 Equal Weight ETF by 4.6% during the fourth quarter. Invesco Ltd. now owns 10,144,784 shares of the company’s stock worth $1,943,335,000 after acquiring an additional 444,846 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Invesco S&P 500 Equal Weight ETF by 14.3% in the fourth quarter. State of Wisconsin Investment Board now owns 8,485,519 shares of the company’s stock valued at $1,625,486,000 after purchasing an additional 1,060,181 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Invesco S&P 500 Equal Weight ETF by 11.7% in the second quarter. JPMorgan Chase & Co. now owns 5,646,560 shares of the company’s stock valued at $1,026,206,000 after purchasing an additional 589,365 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.