Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Short Interest Update

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 283,816 shares, a drop of 32.9% from the June 30th total of 422,703 shares. Based on an average daily trading volume, of 1,020,985 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Invesco S&P 500 Top 50 ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC raised its position in shares of Invesco S&P 500 Top 50 ETF by 4,166.5% during the 4th quarter. Sound Income Strategies LLC now owns 35,753 shares of the company’s stock valued at $2,104,000 after acquiring an additional 34,915 shares in the last quarter. One Wealth Advisors LLC boosted its holdings in Invesco S&P 500 Top 50 ETF by 5.1% in the fourth quarter. One Wealth Advisors LLC now owns 343,632 shares of the company’s stock worth $20,370,000 after purchasing an additional 16,819 shares during the period. Elevation Capital Advisory LLC boosted its holdings in Invesco S&P 500 Top 50 ETF by 26.1% in the fourth quarter. Elevation Capital Advisory LLC now owns 161,707 shares of the company’s stock worth $9,586,000 after purchasing an additional 33,420 shares during the period. Ethos Capital Management Inc. bought a new stake in Invesco S&P 500 Top 50 ETF during the fourth quarter valued at $1,905,000. Finally, Win Advisors Inc. bought a new stake in Invesco S&P 500 Top 50 ETF during the fourth quarter valued at $3,018,000.

Invesco S&P 500 Top 50 ETF Price Performance

XLG opened at $60.13 on Friday. The stock has a market capitalization of $10.51 billion, a PE ratio of 27.80 and a beta of 1.06. The firm’s fifty day moving average price is $61.57 and its 200 day moving average price is $59.47. Invesco S&P 500 Top 50 ETF has a 12-month low of $52.60 and a 12-month high of $64.77.

About Invesco S&P 500 Top 50 ETF

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.