Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,054 shares, a growth of 86.9% from the July 30th total of 564 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 2,551 shares, the short-interest ratio is presently 0.4 days.
Institutional Trading of Invesco Next Gen Connectivity ETF
A number of hedge funds have recently added to or reduced their stakes in KNCT. HighTower Advisors LLC purchased a new position in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth about $21,522,000. Truist Financial Corp acquired a new position in Invesco Next Gen Connectivity ETF during the fourth quarter worth approximately $3,220,000. LPL Financial LLC increased its position 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 worth $3,331,000 after purchasing an additional 16,175 shares during the last quarter. Stifel Financial Corp purchased a new position in Invesco Next Gen Connectivity ETF during the fourth quarter worth approximately $2,049,000. Finally, Cetera Investment Advisers acquired a new position in shares of Invesco Next Gen Connectivity ETF in the 1st quarter valued at $1,885,000.
Invesco Next Gen Connectivity ETF Stock Performance
NYSEARCA KNCT traded up $1.31 during mid-day trading on Monday, reaching $197.65. 1,400 shares of the stock were exchanged, compared to its average volume of 4,589. The stock has a market capitalization of $162.07 million, a PE ratio of 24.46 and a beta of 1.12. Invesco Next Gen Connectivity ETF has a 1-year low of $117.11 and a 1-year high of $219.83. The business’s fifty day simple moving average is $196.18 and its 200 day simple moving average is $177.97.
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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