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

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 1,156 shares, a decline of 89.4% from the May 31st total of 10,945 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 3,954 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Invesco Next Gen Connectivity ETF during the second quarter valued at approximately $229,000. Advisory Services Network LLC bought a new stake in Invesco Next Gen Connectivity ETF during the 3rd quarter valued at $25,000. Fulcrum Equity Management bought a new stake in shares of Invesco Next Gen Connectivity ETF in the fourth quarter valued at about $304,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Invesco Next Gen Connectivity ETF in the 4th quarter worth $544,000. Finally, Nilsine Partners LLC bought a new position in Invesco Next Gen Connectivity ETF in the fourth quarter worth about $1,384,000.

Invesco Next Gen Connectivity ETF Trading Down 1.2%

Shares of NYSEARCA KNCT traded down $2.55 during mid-day trading on Friday, reaching $206.09. The company had a trading volume of 931 shares, compared to its average volume of 4,905. The stock has a market cap of $162.81 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a 52 week low of $113.50 and a 52 week high of $219.83. The business’s 50-day moving average is $191.06 and its 200-day moving average is $158.80.

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.