Short Interest in Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) Decreases By 29.0%

Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) was the target of a large drop in short interest in 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 volume of 38,673 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.4% of the shares of the stock are sold short.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSPM. Royal Bank of Canada increased its stake in shares of Invesco S&P 500 Equal Weight Materials ETF by 305.7% in the 4th quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock worth $1,516,000 after acquiring an additional 33,503 shares during the last quarter. Sykon Capital LLC acquired a new position in shares of Invesco S&P 500 Equal Weight Materials ETF during the 4th quarter valued at about $888,000. Nemes Rush Group LLC acquired a new position in shares of Invesco S&P 500 Equal Weight Materials ETF during the 4th quarter valued at about $27,000. Lido Advisors LLC grew its holdings in shares of Invesco S&P 500 Equal Weight Materials ETF by 4.6% in the fourth quarter. Lido Advisors LLC now owns 8,448 shares of the company’s stock valued at $277,000 after purchasing an additional 373 shares during the period. Finally, Clearstead Advisors LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Materials ETF in the fourth quarter valued at about $280,000.

Invesco S&P 500 Equal Weight Materials ETF Stock Down 0.2%

Shares of Invesco S&P 500 Equal Weight Materials ETF stock traded down $0.07 on Friday, hitting $38.01. 21,595 shares of the company were exchanged, compared to its average volume of 38,086. The company has a 50-day moving average price of $38.72 and a 200 day moving average price of $35.19. The stock has a market capitalization of $176.37 million, a price-to-earnings ratio of 21.25 and a beta of 1.06. Invesco S&P 500 Equal Weight Materials ETF has a 1-year low of $26.63 and a 1-year high of $41.42.

About Invesco S&P 500 Equal Weight Materials ETF

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.