Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Short Interest Update

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 564 shares, an increase of 116.1% from the July 15th total of 261 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 4,050 shares, the days-to-cover ratio is currently 0.1 days.

Invesco Next Gen Connectivity ETF Stock Performance

NYSEARCA:KNCT traded down $1.50 during trading hours on Friday, hitting $200.77. The stock had a trading volume of 1,378 shares, compared to its average volume of 4,686. Invesco Next Gen Connectivity ETF has a one year low of $115.37 and a one year high of $219.83. The company has a market cap of $164.63 million, a price-to-earnings ratio of 24.46 and a beta of 1.12. The business’s 50 day moving average is $198.35 and its 200-day moving average is $173.61.

Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Invesco Next Gen Connectivity ETF in the 3rd quarter valued at $25,000. Assetmark Inc. acquired a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth $81,000. Royal Bank of Canada bought a new position in Invesco Next Gen Connectivity ETF during the fourth quarter worth about $159,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Invesco Next Gen Connectivity ETF during the fourth quarter worth about $209,000.

About Invesco Next Gen Connectivity ETF

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.