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

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) saw strong trading volume on Thursday . 1,506,246 shares changed hands during mid-day trading, an increase of 213% from the previous session’s volume of 481,373 shares.The stock last traded at $31.31 and had previously closed at $33.18.

Invesco S&P 500 Equal Weight Technology ETF Price Performance

The firm has a fifty day moving average of $35.87 and a 200 day moving average of $37.38. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 22.74 and a beta of 1.21.

Invesco S&P 500 Equal Weight Technology ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 24th were paid a dividend of $0.0441 per share. This is a boost from Invesco S&P 500 Equal Weight Technology ETF’s previous dividend of $0.04. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSPT. AdvisorNet Financial Inc acquired a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the 4th quarter valued at about $25,000. Assetmark Inc. raised its holdings in Invesco S&P 500 Equal Weight Technology ETF by 90.0% in the 4th quarter. Assetmark Inc. now owns 684 shares of the company’s stock worth $26,000 after purchasing an additional 324 shares during the period. NBC Securities Inc. purchased a new position in Invesco S&P 500 Equal Weight Technology ETF during the first quarter worth approximately $28,000. Avior Wealth Management LLC grew its holdings in Invesco S&P 500 Equal Weight Technology ETF by 510.3% in the fourth quarter. Avior Wealth Management LLC now owns 885 shares of the company’s stock valued at $33,000 after purchasing an additional 740 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF in the fourth quarter valued at approximately $41,000.

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.