Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) saw unusually-strong trading volume on Tuesday . 458,584 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 485,693 shares.The stock last traded at $61.13 and had previously closed at $62.41.

Invesco S&P 500 Equal Weight Technology ETF Stock Down 2.3%

The firm’s 50-day moving average price is $60.68 and its 200 day moving average price is $51.84. The firm has a market cap of $5.48 billion, a P/E ratio of 26.94 and a beta of 1.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RSPT. Moulton Wealth Management Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF in the second quarter valued at approximately $933,000. Neville Rodie & Shaw Inc. boosted its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 0.6% during the second quarter. Neville Rodie & Shaw Inc. now owns 202,650 shares of the company’s stock worth $13,071,000 after buying an additional 1,300 shares during the period. Global Wealth Strategies & Associates acquired a new position in shares of Invesco S&P 500 Equal Weight Technology ETF during the second quarter worth approximately $1,325,000. FAS Wealth Partners Inc. bought a new position in Invesco S&P 500 Equal Weight Technology ETF in the 1st quarter worth approximately $48,000. Finally, NewEdge Advisors LLC grew its holdings in Invesco S&P 500 Equal Weight Technology ETF by 6.0% in the 1st quarter. NewEdge Advisors LLC now owns 67,502 shares of the company’s stock worth $3,055,000 after buying an additional 3,816 shares in the last quarter.

About Invesco S&P 500 Equal Weight Technology ETF

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.