Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Sees Significant Drop in Short Interest

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 261 shares, a drop of 97.5% from the June 30th total of 10,630 shares. Based on an average daily volume of 5,590 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF

Several institutional investors have recently modified their holdings of the business. Fulcrum Equity Management boosted its position in Invesco Next Gen Connectivity ETF by 8.0% in the second quarter. Fulcrum Equity Management now owns 2,063 shares of the company’s stock worth $435,000 after purchasing an additional 153 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Invesco Next Gen Connectivity ETF by 6.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,204 shares of the company’s stock valued at $1,098,000 after buying an additional 320 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Invesco Next Gen Connectivity ETF during the 1st quarter valued at $1,885,000. Assetmark Inc. lifted its holdings in shares of Invesco Next Gen Connectivity ETF by 150.7% in the first quarter. Assetmark Inc. now owns 544 shares of the company’s stock worth $75,000 after buying an additional 327 shares in the last quarter. Finally, Independent Financial Group LLC purchased a new stake in Invesco Next Gen Connectivity ETF in the 1st quarter worth approximately $280,000.

Invesco Next Gen Connectivity ETF Stock Down 1.7%

KNCT stock traded down $3.27 during trading on Friday, reaching $188.48. The stock had a trading volume of 5,068 shares, compared to its average volume of 4,822. The company has a market capitalization of $154.55 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a one year low of $113.50 and a one year high of $219.83. The company’s 50 day moving average is $201.09 and its two-hundred day moving average is $167.95.

About Invesco Next Gen Connectivity ETF

The Invesco Next Gen Connectivity ETF (KNCT) is an exchange-traded fund that mostly invests in information technology equity. The fund is passively managed, tracking an index comprised of stocks of companies that derive at least 50% of their revenue from future connectivity technologies and products globally. Fund holdings are selected and weighted based on amount of revenue tied to the segment and market capitalization KNCT was launched on Jun 23, 2005 and is issued by Invesco.