Blue Trust Inc. Acquires Shares of Invesco S&P 500 Equal Weight Technology ETF

On October 27th, 2024, Blue Trust Inc. announced a significant increase in its investment in the Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT). During the third quarter, Blue Trust Inc. raised its holdings by an impressive 134.1%. This growth came as the firm added 2,958 shares during the reporting period, bringing its total ownership to 5,163 shares.

The market value of Blue Trust Inc.’s holdings in RSPT amounted to approximately $189,000 at the close of the latest reporting period, highlighting their confidence in the ETF's performance.

In addition to Blue Trust Inc.’s movements, several other hedge funds have also adjusted their positions in the Invesco S&P 500 Equal Weight Technology ETF recently. For instance, International Assets Investment Management LLC acquired a new stake worth around $27,000 in the second quarter. Similarly, Kimelman & Baird LLC made a new investment valued at about $33,000 during the same period. Mather Group LLC and Strategic Financial Concepts LLC also grew their stakes in the ETF, with Strategic Financial Concepts increasing its holdings by an astounding 3,520.6% during the second quarter, leading to ownership of 265,390 shares worth $97,000.

Another addition to the group of investors is Farmers & Merchants Investments Inc., which acquired a fresh stake valued at about $131,000 in the first quarter.

Stock Performance of Invesco S&P 500 Equal Weight Technology ETF

As of last Friday, the Invesco S&P 500 Equal Weight Technology ETF, abbreviated as RSPT, opened at a price of $37.57. The ETF has shown notable performance metrics, with its 50-day moving average standing at $37.06 and a 200-day moving average fixed at $35.97. Over the past year, RSPT hit a low of $26.09 and reached a high of $38.90. With a market capitalization of $4.26 billion, the ETF currently holds a price-to-earnings (P/E) ratio of 25.99 and a beta of 1.69, indicating a relatively higher volatility compared to the overall market.

Overview of Invesco S&P 500 Equal Weight Technology ETF

The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is an exchange-traded fund primarily focused on investing in the information technology sector. This ETF tracks an equal-weighted index of S&P 500 technology companies. Since its inception on November 1, 2006, it has been managed by Invesco, a recognized name in the investment management industry.

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BlueTrust, Acquisition, ETF