Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Sees Significant Increase in Short Interest

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 282,957 shares, an increase of 48.9% from the July 30th total of 190,030 shares. Based on an average daily volume of 132,574 shares, the short-interest ratio is presently 2.1 days. Currently, 2.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Invesco AI and Next Gen Software ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC grew its position in Invesco AI and Next Gen Software ETF by 9.6% during the 4th quarter. LPL Financial LLC now owns 449,076 shares of the company’s stock worth $26,707,000 after purchasing an additional 39,155 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Invesco AI and Next Gen Software ETF by 5.9% during the third quarter. Bank of America Corp DE now owns 161,385 shares of the company’s stock worth $8,720,000 after buying an additional 8,953 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Invesco AI and Next Gen Software ETF by 7.8% during the fourth quarter. Osaic Holdings Inc. now owns 133,192 shares of the company’s stock worth $7,921,000 after buying an additional 9,602 shares during the period. Royal Bank of Canada grew its holdings in shares of Invesco AI and Next Gen Software ETF by 282.1% during the fourth quarter. Royal Bank of Canada now owns 119,030 shares of the company’s stock valued at $7,078,000 after buying an additional 87,882 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Invesco AI and Next Gen Software ETF by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 114,532 shares of the company’s stock valued at $6,188,000 after acquiring an additional 19,305 shares during the period.

Invesco AI and Next Gen Software ETF Stock Performance

IGPT stock traded down $1.14 on Tuesday, hitting $90.89. 126,234 shares of the company’s stock were exchanged, compared to its average volume of 130,808. Invesco AI and Next Gen Software ETF has a 12-month low of $49.73 and a 12-month high of $109.32. The firm has a 50 day moving average price of $93.34 and a two-hundred day moving average price of $82.10. The stock has a market cap of $1.20 billion, a P/E ratio of 28.76 and a beta of 1.44.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.