Discovery Capital Management LLC CT Establishes New Position in Invesco's Equal Weight ETF

Discovery Capital Management LLC CT has ventured into a new investment, purchasing a significant stake in the Invesco S&P 500 Equal Weight ETF (NYSEARCA: RSP). The acquisition occurred during the 2nd quarter, marking a notable investment move by the firm. A total of 40,900 shares were acquired, with an estimated value of $6,120,000. This new stake positions Discovery Capital Management among the various institutional investors and hedge funds that have recently adjusted their holdings of RSP.

Other Investors Make Moves

In parallel financial shifts, Concentric Capital Strategies LP augmented its shares in Invesco S&P 500 Equal Weight ETF by a robust 80%, now holding 90,000 shares valued at $13,468,000. Palisade Capital Management LP expanded its shareholding by 26.9%, and Snowden Capital Advisors LLC modestly increased its stake by 2.8%. Other notable adjustments include Frank Rimerman Advisors LLC's 4.6% increase and Guardian Wealth Advisors LLC NC's 20.9% boost in their ETF investments during the same period.

ETF Performance Overview

The Invesco S&P 500 Equal Weight ETF saw minor fluctuations in market price recently, with a slight trade down of $0.03, reaching $150.50. The ETF's trading volume was robust, with market capitalization standing at $42.54 billion, a P/E ratio of 16.13, and a beta of 1.05. Shorter and longer-term movements show variations with the 50-day and 200-day simple moving averages.

About the Invesco S&P 500 Equal Weight ETF

The ETF strives to reflect the performance of the S&P 500 Equal Weight Index, focusing on a broad range of industrial, utility, transportation, and financial companies primarily listed on NYSE Euronext.

Investment, Acquisition, Finance