Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Sees Unusually-High Trading Volume – Still a Buy?

Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) saw unusually-strong trading volume on Thursday . Approximately 365,016 shares traded hands during trading, an increase of 361% from the previous session’s volume of 79,199 shares.The stock last traded at $57.36 and had previously closed at $57.06.

Invesco S&P 500 Equal Weight Industrials ETF Stock Up 1.1%

The firm’s 50 day simple moving average is $55.62 and its 200-day simple moving average is $54.95. The company has a market capitalization of $714.90 million, a PE ratio of 22.94 and a beta of 1.09.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RSPN. CX Institutional grew its stake in shares of Invesco S&P 500 Equal Weight Industrials ETF by 291.3% in the third quarter. CX Institutional now owns 587 shares of the company’s stock valued at $33,000 after buying an additional 437 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Invesco S&P 500 Equal Weight Industrials ETF during the 1st quarter worth approximately $47,000. US Bancorp DE boosted its holdings in Invesco S&P 500 Equal Weight Industrials ETF by 53.5% in the 1st quarter. US Bancorp DE now owns 1,107 shares of the company’s stock worth $54,000 after acquiring an additional 386 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Invesco S&P 500 Equal Weight Industrials ETF in the second quarter valued at approximately $80,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Industrials ETF during the third quarter valued at approximately $97,000.

About Invesco S&P 500 Equal Weight Industrials ETF

The Invesco S&P 500 Equal Weight Industrials ETF (RSPN) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks an equal-weighted index of industrial US stocks drawn from the S&P 500. RSPN was launched on Nov 1, 2006 and is managed by Invesco.