Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sets New 12-Month High – Should You Buy?

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) reached a new 52-week high during trading on Tuesday . The company traded as high as $39.98 and last traded at $39.87, with a volume of 26141 shares changing hands. The stock had previously closed at $39.56.

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

The company has a market cap of $4.53 billion, a price-to-earnings ratio of 25.99 and a beta of 1.69. The stock’s 50-day simple moving average is $38.55 and its 200 day simple moving average is $37.73.

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

Hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc acquired a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the fourth quarter worth about $25,000. Assetmark Inc. lifted its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 90.0% during the fourth quarter. Assetmark Inc. now owns 684 shares of the company’s stock worth $26,000 after purchasing an additional 324 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Invesco S&P 500 Equal Weight Technology ETF by 510.3% during the fourth quarter. Avior Wealth Management LLC now owns 885 shares of the company’s stock worth $33,000 after purchasing an additional 740 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the third quarter worth about $38,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the third quarter worth about $39,000.

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.