Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Reaches New 12-Month High – Time to Buy?

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.22 and last traded at $39.21, with a volume of 11028 shares. The stock had previously closed at $38.65.

Invesco S&P 500 Equal Weight Technology ETF Price Performance

The firm’s 50 day moving average is $37.77 and its 200 day moving average is $36.70. The company has a market capitalization of $4.42 billion, a PE ratio of 25.99 and a beta of 1.69.

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

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 134.1% in the third quarter. Blue Trust Inc. now owns 5,163 shares of the company’s stock worth $189,000 after purchasing an additional 2,958 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 72.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,408 shares of the company’s stock worth $619,000 after buying an additional 6,900 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Invesco S&P 500 Equal Weight Technology ETF by 7.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 53,673 shares of the company’s stock valued at $1,968,000 after buying an additional 3,635 shares during the period. Strategic Financial Concepts LLC lifted its stake in Invesco S&P 500 Equal Weight Technology ETF by 3,520.6% in the second quarter. Strategic Financial Concepts LLC now owns 265,390 shares of the company’s stock worth $97,000 after acquiring an additional 258,060 shares during the period. Finally, Mather Group LLC. bought a new stake in Invesco S&P 500 Equal Weight Technology ETF in the second quarter valued at $48,000.

Invesco S&P 500 Equal Weight Technology ETF Company Profile

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.