Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) Sees Large Decline in Short Interest

Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 17,435 shares, a drop of 29.0% from the February 26th total of 24,547 shares. Based on an average daily trading volume, of 38,673 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the shares of the company are sold short.

Invesco S&P 500 Equal Weight Materials ETF Stock Performance

RSPM traded down $0.03 during trading on Monday, hitting $37.98. The stock had a trading volume of 80,085 shares, compared to its average volume of 38,785. The firm has a market capitalization of $176.23 million, a P/E ratio of 21.25 and a beta of 1.06. Invesco S&P 500 Equal Weight Materials ETF has a twelve month low of $26.63 and a twelve month high of $41.42. The company’s 50-day moving average price is $38.74 and its 200 day moving average price is $35.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Invesco S&P 500 Equal Weight Materials ETF by 40.2% in the first quarter. Royal Bank of Canada now owns 16,269 shares of the company’s stock valued at $517,000 after purchasing an additional 4,663 shares during the period. Jones Financial Companies Lllp increased its position in Invesco S&P 500 Equal Weight Materials ETF by 591.0% during the 1st quarter. Jones Financial Companies Lllp now owns 4,630 shares of the company’s stock worth $141,000 after purchasing an additional 3,960 shares during the period. Lavaca Capital LLC raised its stake in shares of Invesco S&P 500 Equal Weight Materials ETF by 1,011.1% during the 2nd quarter. Lavaca Capital LLC now owns 5,000 shares of the company’s stock worth $162,000 after buying an additional 4,550 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Invesco S&P 500 Equal Weight Materials ETF by 15.8% during the 2nd quarter. Raymond James Financial Inc. now owns 113,478 shares of the company’s stock worth $3,678,000 after buying an additional 15,515 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Invesco S&P 500 Equal Weight Materials ETF in the 2nd quarter valued at approximately $212,000.

Invesco S&P 500 Equal Weight Materials ETF Company Profile

The Invesco S&P 500 Equal Weight Materials ETF (RSPM) is an exchange-traded fund that is based on the S&P 500 Equal Weighted / Materials index. The fund tracks an equal-weighted index of US materials companies in the S&P 500. RSPM was launched on Nov 1, 2006 and is managed by Invesco.