Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Stock Short Interest Falls 71.2%

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the target of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 1,149 shares, a drop of 71.2% from the October 15th total of 3,986 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,088 shares, the days-to-cover ratio is presently 0.6 days.

Invesco Next Gen Connectivity ETF Stock Performance

KNCT stock traded down $3.04 during midday trading on Friday, hitting $176.49. 10,903 shares of the company’s stock were exchanged, compared to its average volume of 4,802. The stock’s fifty day moving average price is $194.83 and its 200-day moving average price is $180.39. The company has a market cap of $139.43 million, a PE ratio of 24.46 and a beta of 1.14. Invesco Next Gen Connectivity ETF has a one year low of $126.32 and a one year high of $219.83.

Institutional Investors Weigh In On Invesco Next Gen Connectivity ETF

Large investors have recently modified their holdings of the business. Assetmark Inc. raised its position in shares of Invesco Next Gen Connectivity ETF by 150.7% during the first quarter. Assetmark Inc. now owns 544 shares of the company’s stock worth $75,000 after purchasing an additional 327 shares during the period. Independent Financial Group LLC bought a new position in shares of Invesco Next Gen Connectivity ETF during the 1st quarter valued at about $280,000. NTV Asset Management LLC bought a new position in shares of Invesco Next Gen Connectivity ETF during the 3rd quarter valued at about $307,000. Vision Capital Management Inc. acquired a new position in shares of Invesco Next Gen Connectivity ETF in the 3rd quarter valued at approximately $307,000. Finally, Greenline Wealth Management LLC acquired a new position in shares of Invesco Next Gen Connectivity ETF in the 3rd quarter valued at approximately $337,000.

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.