Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) Hits New 1-Year High – Still a Buy?

Shares of Invesco S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $51.35 and last traded at $51.35, with a volume of 6510 shares changing hands. The stock had previously closed at $50.91.

Invesco S&P 500 Equal Weight Industrials ETF Price Performance

The company has a fifty day moving average of $48.82 and a 200 day moving average of $47.21. The firm has a market capitalization of $785.59 million, a P/E ratio of 22.62 and a beta of 1.24.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Meitav Investment House Ltd. boosted its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 0.6% during the 1st quarter. Meitav Investment House Ltd. now owns 953,759 shares of the company’s stock worth $45,504,000 after buying an additional 6,090 shares in the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 0.8% during the 1st quarter. Davis Investment Partners LLC now owns 334,375 shares of the company’s stock worth $15,558,000 after buying an additional 2,506 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 5,760.2% during the 2nd quarter. NewEdge Advisors LLC now owns 281,524 shares of the company’s stock worth $12,784,000 after buying an additional 276,720 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 6.8% during the 1st quarter. Osaic Holdings Inc. now owns 168,988 shares of the company’s stock worth $8,062,000 after buying an additional 10,819 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight Industrials ETF by 5.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 144,354 shares of the company’s stock worth $6,887,000 after buying an additional 6,938 shares in the last quarter.

Invesco S&P 500 Equal Weight Industrials ETF Company Profile

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.