Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Sees Significant Increase in Short Interest

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCTGet Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 564 shares, a growth of 116.1% from the July 15th total of 261 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,050 shares, the short-interest ratio is currently 0.1 days.

Invesco Next Gen Connectivity ETF Trading Down 0.7%

KNCT stock traded down $1.50 during mid-day trading on Friday, hitting $200.77. The stock had a trading volume of 1,378 shares, compared to its average volume of 4,686. The firm has a fifty day simple moving average of $198.35 and a 200 day simple moving average of $173.61. The firm has a market capitalization of $164.63 million, a P/E ratio of 24.46 and a beta of 1.12. Invesco Next Gen Connectivity ETF has a 52 week low of $115.37 and a 52 week high of $219.83.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KNCT. Advisory Services Network LLC bought a new stake in Invesco Next Gen Connectivity ETF during the third quarter worth $25,000. Assetmark Inc. bought a new position in shares of Invesco Next Gen Connectivity ETF in the 4th quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth $81,000. Royal Bank of Canada acquired a new position in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth $159,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Invesco Next Gen Connectivity ETF during the 4th quarter worth $209,000.

Invesco Next Gen Connectivity ETF Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Invesco Next Gen Connectivity ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco Next Gen Connectivity ETF and related companies with MarketBeat.com's FREE daily email newsletter.