Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Short Interest Update

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 18,394 shares, a growth of 2,225.4% from the April 30th total of 791 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 13,968 shares, the days-to-cover ratio is currently 1.3 days.

Invesco S&P 500 Equal Weight Communication Services ETF Trading Up 0.6%

Invesco S&P 500 Equal Weight Communication Services ETF stock traded up $0.24 during trading hours on Wednesday, reaching $37.71. 4,189 shares of the company were exchanged, compared to its average volume of 12,884. The firm has a market cap of $63.73 million, a price-to-earnings ratio of 17.69 and a beta of 0.87. The stock has a 50-day moving average of $37.86 and a 200 day moving average of $38.51. Invesco S&P 500 Equal Weight Communication Services ETF has a 12 month low of $35.94 and a 12 month high of $41.47.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Communication Services ETF

Several hedge funds have recently modified their holdings of RSPC. NewEdge Advisors LLC boosted its position in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 305.0% in the second quarter. NewEdge Advisors LLC now owns 166,495 shares of the company’s stock valued at $6,370,000 after acquiring an additional 125,388 shares during the period. Graham Capital Wealth Management LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter valued at approximately $3,600,000. Paller Financial Services Inc bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter valued at approximately $2,761,000. Blue Chip Partners LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter valued at approximately $2,276,000. Finally, LPL Financial LLC boosted its position in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 89.3% in the fourth quarter. LPL Financial LLC now owns 119,262 shares of the company’s stock valued at $4,751,000 after acquiring an additional 56,264 shares during the period.

About Invesco S&P 500 Equal Weight Communication Services ETF

The Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks an equal-weighted index of US large-cap firms engaged in communication services, selected from the S&P 500 Index. RSPC was launched on Nov 7, 2018 and is managed by Invesco.