Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 10,630 shares, an increase of 819.6% from the June 15th total of 1,156 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 4,940 shares, the days-to-cover ratio is presently 2.2 days.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in shares of Invesco Next Gen Connectivity ETF during the 3rd quarter worth approximately $25,000. Assetmark Inc. acquired a new position in Invesco Next Gen Connectivity ETF during the 4th quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in shares of Invesco Next Gen Connectivity ETF during the fourth quarter worth approximately $81,000. Royal Bank of Canada acquired a new position in Invesco Next Gen Connectivity ETF during the 4th quarter worth $159,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Invesco Next Gen Connectivity ETF in the fourth quarter valued at about $209,000.
Invesco Next Gen Connectivity ETF Stock Performance
Shares of KNCT traded down $1.56 during trading hours on Friday, reaching $201.49. 3,645 shares of the company traded hands, compared to its average volume of 4,979. The stock’s fifty day moving average is $199.64 and its 200 day moving average is $164.12. The stock has a market cap of $165.22 million, a P/E ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a 1-year low of $113.50 and a 1-year 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.
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