Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Sees Large Decline in Short Interest

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 261 shares, a drop of 97.5% from the June 30th total of 10,630 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 5,590 shares, the days-to-cover ratio is presently 0.0 days.

Invesco Next Gen Connectivity ETF Trading Down 1.7%

NYSEARCA KNCT traded down $3.27 on Friday, hitting $188.48. 5,068 shares of the company’s stock were exchanged, compared to its average volume of 4,822. Invesco Next Gen Connectivity ETF has a 52 week low of $113.50 and a 52 week high of $219.83. The stock has a 50-day moving average of $201.09 and a 200-day moving average of $167.95. The stock has a market cap of $154.55 million, a price-to-earnings ratio of 24.46 and a beta of 1.11.

Institutional Trading of Invesco Next Gen Connectivity ETF

Several large investors have recently bought and sold shares of the business. Fulcrum Equity Management grew its position in Invesco Next Gen Connectivity ETF by 8.0% in the second quarter. Fulcrum Equity Management now owns 2,063 shares of the company’s stock valued at $435,000 after acquiring an additional 153 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Invesco Next Gen Connectivity ETF by 6.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,204 shares of the company’s stock worth $1,098,000 after acquiring an additional 320 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Invesco Next Gen Connectivity ETF in the first quarter worth about $1,885,000. Assetmark Inc. lifted its holdings in shares of Invesco Next Gen Connectivity ETF by 150.7% in the first quarter. Assetmark Inc. now owns 544 shares of the company’s stock worth $75,000 after acquiring an additional 327 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new stake in shares of Invesco Next Gen Connectivity ETF in the 1st quarter valued at approximately $280,000.

Invesco Next Gen Connectivity ETF Company Profile

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.