Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sees Large Volume Increase – Still a Buy?

Shares of Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) saw unusually-high trading volume on Friday . Approximately 469,426 shares traded hands during trading, an increase of 34% from the previous session’s volume of 351,215 shares.The stock last traded at $44.46 and had previously closed at $45.24.

Invesco S&P 500 Equal Weight Technology ETF Stock Down 2.0%

The stock’s fifty day simple moving average is $46.73 and its two-hundred day simple moving average is $45.80. The firm has a market cap of $3.85 billion, a PE ratio of 26.94 and a beta of 1.26.

Institutional Trading of Invesco S&P 500 Equal Weight Technology ETF

Several hedge funds and other institutional investors have recently made changes to their positions in RSPT. CWM LLC grew its position in Invesco S&P 500 Equal Weight Technology ETF by 2.1% during the third quarter. CWM LLC now owns 10,965 shares of the company’s stock valued at $489,000 after buying an additional 224 shares during the period. Kovack Advisors Inc. raised its position in Invesco S&P 500 Equal Weight Technology ETF by 1.3% in the fourth quarter. Kovack Advisors Inc. now owns 17,222 shares of the company’s stock worth $794,000 after acquiring an additional 225 shares during the period. Valicenti Advisory Services Inc. raised its position in Invesco S&P 500 Equal Weight Technology ETF by 0.4% in the fourth quarter. Valicenti Advisory Services Inc. now owns 56,125 shares of the company’s stock worth $2,554,000 after acquiring an additional 249 shares during the period. New Wave Wealth Advisors LLC boosted its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 3.6% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 7,425 shares of the company’s stock worth $331,000 after acquiring an additional 258 shares during the last quarter. Finally, LexAurum Advisors LLC boosted its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 4.5% during the 3rd quarter. LexAurum Advisors LLC now owns 6,214 shares of the company’s stock worth $277,000 after acquiring an additional 269 shares during 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.