Meridian Investment Counsel Inc. Makes New Investment in Invesco S&P 500 Equal Weight ETF $RSP

Meridian Investment Counsel Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) during the third quarter, HoldingsChannel reports. The fund purchased 25,396 shares of the company’s stock, valued at approximately $5,283,000. Invesco S&P 500 Equal Weight ETF accounts for approximately 1.2% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 18th largest holding.

Other institutional investors have also bought and sold shares of the company. Highland Investment Advisors LLC purchased a new position in shares of Invesco S&P 500 Equal Weight ETF in the 2nd quarter worth $26,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth about $29,000. Brandywine Financial Group increased its holdings 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 worth $30,000 after buying an additional 121 shares during the last quarter. Rogco LP purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 2nd quarter valued at about $34,000. Finally, Asset Dedication LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight ETF during the 1st quarter valued at about $36,000. Institutional investors own 61.18% of the company’s stock.

Invesco S&P 500 Equal Weight ETF Trading Down 0.6%

Shares of NYSEARCA RSP opened at $212.09 on Thursday. Invesco S&P 500 Equal Weight ETF has a 12-month low of $182.11 and a 12-month high of $223.43. The firm’s 50-day moving average price is $216.01 and its 200-day moving average price is $210.16. The stock has a market capitalization of $97.35 billion, a price-to-earnings ratio of 20.10 and a beta of 0.92.

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.