Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Sees Large Drop in Short Interest

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 5,920 shares, a drop of 72.5% from the January 15th total of 21,512 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 10,621 shares, the short-interest ratio is presently 0.6 days. Based on an average trading volume of 10,621 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are sold short.

Invesco S&P 500 Equal Weight Communication Services ETF Trading Down 1.0%

Shares of NYSEARCA RSPC traded down $0.38 during midday trading on Wednesday, reaching $38.51. 8,516 shares of the stock were exchanged, compared to its average volume of 22,368. The company has a market capitalization of $73.17 million, a P/E ratio of 17.69 and a beta of 1.02. The stock has a 50 day moving average price of $39.23 and a 200-day moving average price of $39.14. Invesco S&P 500 Equal Weight Communication Services ETF has a 52-week low of $31.24 and a 52-week high of $41.47.

Hedge Funds Weigh In On Invesco S&P 500 Equal Weight Communication Services ETF

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 2.2% during the 3rd quarter. Raymond James Financial Inc. now owns 185,607 shares of the company’s stock valued at $7,654,000 after acquiring an additional 4,003 shares during the last quarter. NewEdge Advisors LLC raised its stake in Invesco S&P 500 Equal Weight Communication Services ETF by 305.0% during the second quarter. NewEdge Advisors LLC now owns 166,495 shares of the company’s stock worth $6,370,000 after purchasing an additional 125,388 shares during the period. LPL Financial LLC boosted its holdings in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 89.3% in the 4th quarter. LPL Financial LLC now owns 119,262 shares of the company’s stock valued at $4,751,000 after purchasing an additional 56,264 shares during the last quarter. Graham Capital Wealth Management LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the 4th quarter valued at $3,600,000. Finally, Bank of America Corp DE increased its holdings in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 115.5% during the 3rd quarter. Bank of America Corp DE now owns 84,719 shares of the company’s stock worth $3,493,000 after buying an additional 45,405 shares during the last quarter.

About Invesco S&P 500 Equal Weight Communication Services ETF

The Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks an equal-weighted index of US large-cap firms engaged in communication services, selected from the S&P 500 Index. RSPC was launched on Nov 7, 2018 and is managed by Invesco.