Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 8,321 shares, a growth of 63.3% from the April 30th total of 5,095 shares. Based on an average daily volume of 3,651 shares, the short-interest ratio is currently 2.3 days. Currently, 1.1% of the shares of the company are short sold.
Institutional Investors Weigh In On Invesco Next Gen Connectivity ETF
A number of large investors have recently added to or reduced their stakes in KNCT. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Invesco Next Gen Connectivity ETF in the fourth quarter valued at $544,000. Nilsine Partners LLC acquired a new stake in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth about $1,384,000. Truist Financial Corp bought a new stake in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth about $3,220,000. HighTower Advisors LLC bought a new stake in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth about $21,522,000. Finally, Wellington Shields & Co. LLC acquired a new position in Invesco Next Gen Connectivity ETF in the 4th quarter valued at about $361,000.
Invesco Next Gen Connectivity ETF Price Performance
NYSEARCA KNCT traded down $7.04 during trading on Thursday, reaching $211.39. 7,714 shares of the company’s stock were exchanged, compared to its average volume of 4,962. The business has a 50 day moving average price of $171.36 and a 200-day moving average price of $150.47. The stock has a market capitalization of $167.00 million, a P/E ratio of 24.46 and a beta of 1.06. Invesco Next Gen Connectivity ETF has a fifty-two week low of $108.92 and a fifty-two week high of $219.83.
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.
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