Short Interest in Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Drops By 56.8%

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 312,982 shares, a drop of 56.8% from the December 31st total of 724,694 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,949,343 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 2,949,343 shares, the short-interest ratio is currently 0.1 days. Currently, 0.2% of the shares of the stock are sold short.

Invesco S&P 500 Top 50 ETF Price Performance

NYSEARCA XLG traded down $0.27 during trading hours on Thursday, hitting $59.01. 8,235,413 shares of the company’s stock traded hands, compared to its average volume of 3,361,451. Invesco S&P 500 Top 50 ETF has a 52-week low of $39.50 and a 52-week high of $60.63. The company has a market capitalization of $11.51 billion, a PE ratio of 27.80 and a beta of 1.03. The firm’s 50-day moving average is $59.12 and its 200-day moving average is $57.32.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Planning Group LLC NY purchased a new stake in Invesco S&P 500 Top 50 ETF in the 3rd quarter valued at $533,000. AE Wealth Management LLC increased its stake in Invesco S&P 500 Top 50 ETF by 71.4% in the second quarter. AE Wealth Management LLC now owns 126,429 shares of the company’s stock valued at $6,587,000 after purchasing an additional 52,645 shares during the period. Cannon Advisors Inc. increased its stake in Invesco S&P 500 Top 50 ETF by 40.4% in the third quarter. Cannon Advisors Inc. now owns 29,829 shares of the company’s stock valued at $1,732,000 after purchasing an additional 8,584 shares during the period. M Holdings Securities Inc. purchased a new stake in shares of Invesco S&P 500 Top 50 ETF in the second quarter valued at about $656,000. Finally, Apeiron RIA LLC boosted its stake in shares of Invesco S&P 500 Top 50 ETF by 78.1% during the third quarter. Apeiron RIA LLC now owns 103,493 shares of the company’s stock worth $5,956,000 after buying an additional 45,399 shares during the period.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.