Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) Reaches New 52-Week High – What’s Next?

Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $214.41 and last traded at $214.39, with a volume of 5955226 shares changing hands. The stock had previously closed at $212.77.

Invesco S&P 500 Equal Weight ETF Price Performance

The firm’s 50-day moving average price is $207.09 and its 200-day moving average price is $200.79. The stock has a market cap of $93.84 billion, a P/E ratio of 20.10 and a beta of 0.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in Invesco S&P 500 Equal Weight ETF by 16.4% during the first 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 in the last quarter. Morgan Stanley lifted its position in Invesco S&P 500 Equal Weight ETF by 7.9% during the fourth quarter. Morgan Stanley now owns 31,346,217 shares of the company’s stock valued at $6,004,682,000 after purchasing an additional 2,285,526 shares during the last quarter. Varma Mutual Pension Insurance Co purchased a new position in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth $327,184,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth about $306,496,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Invesco S&P 500 Equal Weight ETF in the 4th quarter worth about $287,168,000. Institutional investors own 61.18% of the company’s stock.

About Invesco S&P 500 Equal Weight ETF

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.