Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sees Large Volume Increase – Still a Buy?

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) saw unusually-strong trading volume on Thursday . 855,608 shares were traded during trading, an increase of 69% from the previous session’s volume of 505,348 shares.The stock last traded at $59.64 and had previously closed at $60.80.

Invesco S&P 500 Equal Weight Technology ETF Stock Down 2.1%

The company’s 50-day moving average price is $61.82 and its 200-day moving average price is $52.62. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 26.94 and a beta of 1.33.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Technology ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 26.7% during the first quarter. Bank of America Corp DE now owns 5,230,024 shares of the company’s stock worth $236,711,000 after acquiring an additional 1,102,277 shares during the period. Wells Fargo & Company MN boosted its holdings in Invesco S&P 500 Equal Weight Technology ETF by 5.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,746,577 shares of the company’s stock valued at $124,997,000 after purchasing an additional 141,025 shares during the period. RMG Wealth Management LLC acquired a new position in Invesco S&P 500 Equal Weight Technology ETF during the 1st quarter worth $66,437,000. Raymond James Financial Inc. increased its holdings in Invesco S&P 500 Equal Weight Technology ETF by 2.0% during the 2nd quarter. Raymond James Financial Inc. now owns 1,426,364 shares of the company’s stock worth $58,167,000 after purchasing an additional 28,061 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Invesco S&P 500 Equal Weight Technology ETF by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 796,681 shares of the company’s stock worth $32,489,000 after purchasing an additional 6,562 shares during the period.

Invesco S&P 500 Equal Weight Technology ETF Company Profile

The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index of S&P 500 technology companies. RSPT was launched on Nov 1, 2006 and is managed by Invesco.