Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Sees Large Increase in Short Interest

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 786,161 shares, a growth of 68.3% from the September 30th total of 467,216 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 875,602 shares, the days-to-cover ratio is presently 0.9 days.

Invesco S&P 500 Equal Weight Technology ETF Price Performance

Invesco S&P 500 Equal Weight Technology ETF stock opened at $61.49 on Tuesday. The stock’s fifty day moving average price is $65.28 and its two-hundred day moving average price is $57.45. Invesco S&P 500 Equal Weight Technology ETF has a one year low of $41.45 and a one year high of $69.45. The firm has a market cap of $5.76 billion, a PE ratio of 26.94 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in Invesco S&P 500 Equal Weight Technology ETF by 12.3% during the second quarter. NewEdge Advisors LLC now owns 75,790 shares of the company’s stock worth $4,888,000 after purchasing an additional 8,288 shares during the period. Investor s Fiduciary Advisor Network LLC increased its holdings in Invesco S&P 500 Equal Weight Technology ETF by 73.6% in the second quarter. Investor s Fiduciary Advisor Network LLC now owns 56,334 shares of the company’s stock worth $3,633,000 after purchasing an additional 23,885 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Invesco S&P 500 Equal Weight Technology ETF in the second quarter worth approximately $621,000. Greenleaf Trust lifted its stake in Invesco S&P 500 Equal Weight Technology ETF by 451.0% in the second quarter. Greenleaf Trust now owns 65,239 shares of the company’s stock valued at $4,228,000 after buying an additional 53,399 shares during the period. Finally, Compass Financial Management LLC acquired a new position in Invesco S&P 500 Equal Weight Technology ETF in the second quarter valued at approximately $5,433,000.

About Invesco S&P 500 Equal Weight Technology ETF

The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index of S&P 500 technology companies. RSPT was launched on Nov 1, 2006 and is managed by Invesco.