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

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 1,156 shares, a decline of 89.4% from the May 31st total of 10,945 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 3,954 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF

Several institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Invesco Next Gen Connectivity ETF during the 4th quarter valued at approximately $21,522,000. Truist Financial Corp purchased a new stake in Invesco Next Gen Connectivity ETF during the fourth quarter valued at $3,220,000. LPL Financial LLC raised its stake in Invesco Next Gen Connectivity ETF by 186.2% during the fourth quarter. LPL Financial LLC now owns 24,864 shares of the company’s stock valued at $3,331,000 after purchasing an additional 16,175 shares in the last quarter. Stifel Financial Corp bought a new position in Invesco Next Gen Connectivity ETF during the fourth quarter valued at $2,049,000. Finally, Cetera Investment Advisers bought a new position in Invesco Next Gen Connectivity ETF during the first quarter valued at $1,885,000.

Invesco Next Gen Connectivity ETF Price Performance

Shares of Invesco Next Gen Connectivity ETF stock traded down $2.55 during trading on Friday, reaching $206.09. 931 shares of the stock traded hands, compared to its average volume of 4,905. The company has a market capitalization of $162.81 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. The business has a fifty day simple moving average of $191.06 and a two-hundred day simple moving average of $158.80. Invesco Next Gen Connectivity ETF has a 52-week low of $113.50 and a 52-week high of $219.83.

Invesco Next Gen Connectivity ETF Company Profile

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.