Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Hits New 52-Week High – Time to Buy?

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $40.71 and last traded at $40.60, with a volume of 24668 shares trading hands. The stock had previously closed at $40.47.

Invesco S&P 500 Equal Weight Technology ETF Stock Down 0.3%

The firm has a 50 day simple moving average of $37.28 and a 200-day simple moving average of $36.89. The company has a market cap of $3.72 billion, a PE ratio of 26.94 and a beta of 1.21.

Hedge Funds Weigh In On Invesco S&P 500 Equal Weight Technology ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 90.0% during the fourth quarter. Assetmark Inc. now owns 684 shares of the company’s stock worth $26,000 after acquiring an additional 324 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the first quarter worth about $28,000. Bristlecone Advisors LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the first quarter worth about $34,000. Mainstream Capital Management LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the fourth quarter worth about $41,000. Finally, North Capital Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the first quarter worth about $58,000.

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.