Covenant Asset Management LLC Grows Stock Holdings in Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP)

Covenant Asset Management LLC raised its position in Invesco S&P 500 Equal Weight ETF (NYSEARCA:RSP) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,393 shares of the company’s stock after acquiring an additional 117 shares during the quarter. Covenant Asset Management LLC’s holdings in Invesco S&P 500 Equal Weight ETF were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its position in shares of Invesco S&P 500 Equal Weight ETF by 11.1% during the fourth quarter. Morgan Stanley now owns 14,772,231 shares of the company’s stock valued at $2,086,578,000 after buying an additional 1,474,149 shares during the period. Gateway Advisory LLC increased its position in shares of Invesco S&P 500 Equal Weight ETF by 9,007.8% during the first quarter. Gateway Advisory LLC now owns 13,837,665 shares of the company’s stock valued at $13,838,000 after buying an additional 13,685,733 shares during the period. Bank of America Corp DE boosted its stake in Invesco S&P 500 Equal Weight ETF by 2.6% during the first quarter. Bank of America Corp DE now owns 12,248,521 shares of the company’s stock worth $1,771,381,000 after acquiring an additional 309,721 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Invesco S&P 500 Equal Weight ETF by 104,839.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,956,524 shares of the company’s stock worth $1,123,859,000 after acquiring an additional 7,948,942 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Invesco S&P 500 Equal Weight ETF by 3.1% during the first quarter. Truist Financial Corp now owns 6,502,128 shares of the company’s stock worth $940,338,000 after acquiring an additional 195,627 shares in the last quarter.

Invesco S&P 500 Equal Weight ETF Price Performance

NYSEARCA:RSP traded down $0.40 during mid-day trading on Tuesday, hitting $146.19. 703,386 shares of the company’s stock were exchanged, compared to its average volume of 4,214,188. Invesco S&P 500 Equal Weight ETF has a one year low of $124.92 and a one year high of $155.77. The business has a fifty day moving average price of $150.63 and a 200 day moving average price of $146.22. The company has a market cap of $41.32 billion, a PE ratio of 16.13 and a beta of 1.05.

Invesco S&P 500 Equal Weight ETF Profile

Guggenheim S&P 500 Equal Weight ETF, formerly Rydex S&P 500 Equal Weight ETF, seeks to replicate as closely as possible, the daily performance of the S&P 500 Equal Weight Index (the Index). The Index is a capitalization-weighted index covering 500 industrial, utility, transportation and financial companies of the United States markets (mostly NYSE Euronext issues).