Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) Stock Short Interest Drops 72.9%

Invesco Russell 1000 Equal Weight ETF (NYSEARCA:EQAL) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 15,975 shares, a decrease of 72.9% from the September 30th total of 58,993 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 29,249 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQAL. SFE Investment Counsel increased its stake in Invesco Russell 1000 Equal Weight ETF by 1.8% in the 1st quarter. SFE Investment Counsel now owns 27,265 shares of the company’s stock worth $1,502,000 after buying an additional 480 shares in the last quarter. Breakwater Capital Group lifted its position in shares of Invesco Russell 1000 Equal Weight ETF by 5.9% in the third quarter. Breakwater Capital Group now owns 19,637 shares of the company’s stock valued at $1,125,000 after acquiring an additional 1,099 shares in the last quarter. Lunt Capital Management Inc. lifted its position in shares of Invesco Russell 1000 Equal Weight ETF by 3.6% in the second quarter. Lunt Capital Management Inc. now owns 48,007 shares of the company’s stock valued at $2,845,000 after acquiring an additional 1,684 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Invesco Russell 1000 Equal Weight ETF by 13.1% in the second quarter. NewEdge Advisors LLC now owns 22,507 shares of the company’s stock valued at $1,334,000 after acquiring an additional 2,610 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Invesco Russell 1000 Equal Weight ETF in the second quarter worth about $166,000.

Invesco Russell 1000 Equal Weight ETF Stock Performance

Shares of NYSEARCA EQAL traded down $0.21 during midday trading on Wednesday, reaching $58.88. The stock had a trading volume of 7,808 shares, compared to its average volume of 48,078. The stock has a 50-day moving average of $59.42 and a 200-day moving average of $57.98. The company has a market capitalization of $814.31 million, a price-to-earnings ratio of 18.07 and a beta of 0.91. Invesco Russell 1000 Equal Weight ETF has a 12-month low of $49.86 and a 12-month high of $62.03.

About Invesco Russell 1000 Equal Weight ETF

The Invesco Russell 1000 Equal Weight ETF (EQAL) is an exchange-traded fund that is based on the Russell 1000 Equal Weight index. The fund tracks an index of the 1,000 largest US stocks. Each sector receives equal weight, and each stock within a sector receives equal weight. EQAL was launched on Dec 23, 2014 and is managed by Invesco.