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

Shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) reached a new 52-week high during trading 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 Trading Up 0.5%

The firm has a market capitalization of $90.98 billion, a PE ratio of 20.10 and a beta of 0.91. The business’s 50 day simple moving average is $203.02 and its 200 day simple moving average is $198.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSP. Bank of America Corp DE lifted its stake in shares of Invesco S&P 500 Equal Weight ETF by 16.4% in the 1st quarter. Bank of America Corp DE now owns 25,370,060 shares of the company’s stock valued at $4,869,022,000 after purchasing an additional 3,567,441 shares during the last quarter. Morgan Stanley raised its holdings in Invesco S&P 500 Equal Weight ETF by 7.9% during the 4th quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock valued at $6,004,682,000 after buying an additional 2,285,526 shares during the period. Varma Mutual Pension Insurance Co purchased a new stake in Invesco S&P 500 Equal Weight ETF during the 4th quarter valued at $327,184,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter worth $306,496,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in Invesco S&P 500 Equal Weight ETF in the fourth quarter worth $287,168,000. Hedge funds and other 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.