Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Hits New 52-Week High – Still a Buy?

Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) shares hit a new 52-week high on Thursday . The company traded as high as $61.07 and last traded at $60.85, with a volume of 290329 shares traded. The stock had previously closed at $59.63.

Invesco S&P 500 Equal Weight Industrials ETF Stock Down 0.8%

The business’s 50 day simple moving average is $57.35 and its 200 day simple moving average is $56.19. The stock has a market cap of $914.75 million, a price-to-earnings ratio of 22.94 and a beta of 1.09.

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

Institutional investors have recently bought and sold shares of the business. CX Institutional lifted its position in shares of Invesco S&P 500 Equal Weight Industrials ETF by 291.3% in the third quarter. CX Institutional now owns 587 shares of the company’s stock valued at $33,000 after buying an additional 437 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Invesco S&P 500 Equal Weight Industrials ETF in the 3rd quarter valued at $97,000. Sound Income Strategies LLC acquired a new stake in Invesco S&P 500 Equal Weight Industrials ETF during the 4th quarter valued at $103,000. AE Wealth Management LLC boosted its position in Invesco S&P 500 Equal Weight Industrials ETF by 12.9% during the second quarter. AE Wealth Management LLC now owns 1,972 shares of the company’s stock worth $106,000 after purchasing an additional 225 shares during the period. Finally, CWM LLC boosted its position in Invesco S&P 500 Equal Weight Industrials ETF by 3,353.3% during the third quarter. CWM LLC now owns 2,590 shares of the company’s stock worth $145,000 after purchasing an additional 2,515 shares during the period.

About Invesco S&P 500 Equal Weight Industrials ETF

The Invesco S&P 500 Equal Weight Industrials ETF (RSPN) is an exchange-traded fund that mostly invests in industrials equity. The fund tracks an equal-weighted index of industrial US stocks drawn from the S&P 500. RSPN was launched on Nov 1, 2006 and is managed by Invesco.