Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Sets New 12-Month High – Time to Buy?

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU)’s share price hit a new 52-week high on Saturday . The stock traded as high as $82.44 and last traded at $82.39, with a volume of 95853 shares changing hands. The stock had previously closed at $80.25.

Invesco S&P 500 Equal Weight Utilities ETF Stock Up 2.7%

The company has a 50 day moving average of $75.76 and a 200 day moving average of $76.23. The firm has a market cap of $542.13 million, a price-to-earnings ratio of 18.42 and a beta of 0.61.

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

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in Invesco S&P 500 Equal Weight Utilities ETF by 562.9% in the second quarter. Bank of America Corp DE now owns 412,381 shares of the company’s stock valued at $29,329,000 after acquiring an additional 350,174 shares in the last quarter. Denver Wealth Management Inc. increased its position in shares of Invesco S&P 500 Equal Weight Utilities ETF by 584.4% in the 4th quarter. Denver Wealth Management Inc. now owns 95,156 shares of the company’s stock worth $7,116,000 after purchasing an additional 81,253 shares during the last quarter. RM Financial Services LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight Utilities ETF in the 4th quarter valued at about $3,080,000. NewEdge Advisors LLC raised its stake in shares of Invesco S&P 500 Equal Weight Utilities ETF by 57.5% in the 2nd quarter. NewEdge Advisors LLC now owns 110,055 shares of the company’s stock valued at $7,827,000 after purchasing an additional 40,159 shares in the last quarter. Finally, Bogart Wealth LLC lifted its position in shares of Invesco S&P 500 Equal Weight Utilities ETF by 15,253.8% during the second quarter. Bogart Wealth LLC now owns 36,849 shares of the company’s stock worth $2,621,000 after purchasing an additional 36,609 shares during the last quarter.

Invesco S&P 500 Equal Weight Utilities ETF Company Profile

The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is an exchange-traded fund that mostly invests in utilities equity. The fund tracks an equal-weighted index of S&P 500 utilities companies. RSPU was launched on Nov 1, 2006 and is managed by Invesco.