Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Short Interest Update

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the target of a significant 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 trading volume, of 3,954 shares, the days-to-cover ratio is presently 0.3 days.

Invesco Next Gen Connectivity ETF Price Performance

Shares of NYSEARCA:KNCT opened at $205.26 on Friday. Invesco Next Gen Connectivity ETF has a 1 year low of $113.50 and a 1 year high of $219.83. The firm has a market capitalization of $162.16 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. The business’s 50 day moving average price is $192.03 and its 200-day moving average price is $159.13.

Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Invesco Next Gen Connectivity ETF during the third quarter worth about $25,000. Assetmark Inc. purchased a new position in Invesco Next Gen Connectivity ETF in the 4th quarter valued at about $29,000. International Assets Investment Management LLC purchased a new position in Invesco Next Gen Connectivity ETF in the 4th quarter valued at about $81,000. Royal Bank of Canada acquired a new stake in Invesco Next Gen Connectivity ETF in the 4th quarter worth about $159,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Invesco Next Gen Connectivity ETF in the 4th quarter worth about $209,000.

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.