Short Interest in Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Expands By 819.6%

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 10,630 shares, a growth of 819.6% from the June 15th total of 1,156 shares. Based on an average daily volume of 4,940 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.3% of the shares of the stock are short sold.

Invesco Next Gen Connectivity ETF Trading Down 0.8%

Shares of Invesco Next Gen Connectivity ETF stock traded down $1.56 during midday trading on Friday, reaching $201.49. The company had a trading volume of 3,645 shares, compared to its average volume of 4,979. The company has a market capitalization of $165.22 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. The stock has a fifty day simple moving average of $199.64 and a 200 day simple moving average of $163.90. Invesco Next Gen Connectivity ETF has a 1-year low of $113.50 and a 1-year high of $219.83.

Institutional Investors Weigh In On Invesco Next Gen Connectivity ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Invesco Next Gen Connectivity ETF during the third quarter valued at $25,000. Assetmark Inc. acquired a new stake in Invesco Next Gen Connectivity ETF in the fourth quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth about $81,000. Royal Bank of Canada bought a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth about $159,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Invesco Next Gen Connectivity ETF during the 4th quarter valued at about $209,000.

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.