Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG) Sets New 12-Month High – Still a Buy?

Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $58.88 and last traded at $58.88, with a volume of 12136 shares trading hands. The stock had previously closed at $57.64.

Invesco S&P 500 Pure Growth ETF Trading Up 2.6%

The firm has a market capitalization of $2.06 billion, a P/E ratio of 24.25 and a beta of 1.21. The business has a 50 day moving average of $52.28 and a 200-day moving average of $49.37.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RPG. Founders Financial Alliance LLC increased its position in shares of Invesco S&P 500 Pure Growth ETF by 354.9% in the third quarter. Founders Financial Alliance LLC now owns 514 shares of the company’s stock worth $25,000 after purchasing an additional 401 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Invesco S&P 500 Pure Growth ETF during the fourth quarter worth about $29,000. Arax Advisory Partners bought a new stake in shares of Invesco S&P 500 Pure Growth ETF during the fourth quarter worth about $39,000. Financial Life Planners acquired a new position in shares of Invesco S&P 500 Pure Growth ETF in the first quarter worth approximately $44,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Invesco S&P 500 Pure Growth ETF in the fourth quarter worth approximately $47,000.

About Invesco S&P 500 Pure Growth ETF

Guggenheim S&P 500 Pure Growth ETF, formerly Rydex S&P 500 Pure Growth ETF, seeks to replicate as closely as possible the performance of the S&P 500 Pure Growth Index (the Index). The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowings for investment purposes, in the equity securities (and derivatives thereof) included in the Index.