Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,156 shares, a drop of 89.4% from the May 31st total of 10,945 shares. Based on an average daily volume of 3,954 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.
Invesco Next Gen Connectivity ETF Stock Performance
Shares of Invesco Next Gen Connectivity ETF stock traded down $3.38 on Friday, reaching $205.26. The stock had a trading volume of 1,471 shares, compared to its average volume of 4,910. The business’s 50-day moving average price is $192.03 and its two-hundred day moving average price is $159.13. The stock has a market cap of $162.16 million, a P/E ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a fifty-two week low of $113.50 and a fifty-two week high of $219.83.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of Invesco Next Gen Connectivity ETF in the third quarter valued at approximately $25,000. Assetmark Inc. acquired a new position in Invesco Next Gen Connectivity ETF during the 4th quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in Invesco Next Gen Connectivity ETF during the 4th quarter valued at $81,000. Royal Bank of Canada bought a new stake in Invesco Next Gen Connectivity ETF in the 4th quarter valued at $159,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Invesco Next Gen Connectivity ETF in the 4th quarter valued at $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.
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