Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 347 shares, a decline of 67.1% from the August 15th total of 1,054 shares. Based on an average trading volume of 3,255 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.
Institutional Trading of Invesco Next Gen Connectivity ETF
Several hedge funds and other institutional investors have recently modified their holdings of KNCT. HighTower Advisors LLC acquired a new position in Invesco Next Gen Connectivity ETF during the fourth quarter valued at $21,522,000. Cetera Investment Advisers acquired a new stake in Invesco Next Gen Connectivity ETF during the 1st quarter worth about $1,885,000. Hennion & Walsh Asset Management Inc. boosted its position in Invesco Next Gen Connectivity ETF by 6.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,204 shares of the company’s stock worth $1,098,000 after acquiring an additional 320 shares during the period. Private Advisor Group LLC grew its stake in Invesco Next Gen Connectivity ETF by 7.0% during the 1st quarter. Private Advisor Group LLC now owns 4,104 shares of the company’s stock valued at $569,000 after acquiring an additional 270 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new position in Invesco Next Gen Connectivity ETF during the 4th quarter valued at about $432,000.
Invesco Next Gen Connectivity ETF Price Performance
Invesco Next Gen Connectivity ETF stock traded down $4.95 during midday trading on Monday, reaching $195.77. The stock had a trading volume of 544 shares, compared to its average volume of 4,443. Invesco Next Gen Connectivity ETF has a twelve month low of $124.52 and a twelve month high of $219.83. The firm has a market cap of $160.53 million, a price-to-earnings ratio of 24.46 and a beta of 1.12. The firm’s fifty day simple moving average is $195.04 and its two-hundred day simple moving average is $181.25.
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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