Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Short Interest Down 34.4% in June

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 17,953 shares, a decrease of 34.4% from the May 31st total of 27,347 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 26,820 shares, the days-to-cover ratio is presently 0.7 days.

Invesco S&P 500 Equal Weight Communication Services ETF Stock Performance

Shares of RSPC stock remained flat at $36.23 during midday trading on Friday. 9,009 shares of the stock were exchanged, compared to its average volume of 13,888. Invesco S&P 500 Equal Weight Communication Services ETF has a 52 week low of $34.88 and a 52 week high of $41.47. The stock has a market cap of $60.50 million, a price-to-earnings ratio of 17.69 and a beta of 0.87. The business’s fifty day moving average price is $37.10 and its 200 day moving average price is $38.09.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSPC. Laurel Wealth Advisors LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the 4th quarter valued at approximately $37,000. Raleigh Capital Management Inc. bought a new position in Invesco S&P 500 Equal Weight Communication Services ETF during the first quarter valued at about $57,000. Jane Street Group LLC acquired a new position in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the first quarter valued at $206,000. Lido Advisors LLC raised its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% in the 1st quarter. Lido Advisors LLC now owns 6,869 shares of the company’s stock valued at $257,000 after buying an additional 326 shares in the last quarter. Finally, Hills Bank & Trust Co acquired a new position in Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter worth about $292,000.

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.