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

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 8,321 shares, a growth of 63.3% from the April 30th total of 5,095 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 3,651 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KNCT. Advisory Services Network LLC bought a new position in shares of Invesco Next Gen Connectivity ETF in the 3rd quarter worth about $25,000. Assetmark Inc. bought a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth approximately $29,000. International Assets Investment Management LLC bought a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth approximately $81,000. Royal Bank of Canada bought a new stake in Invesco Next Gen Connectivity ETF during the 4th quarter worth approximately $159,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Invesco Next Gen Connectivity ETF in the 4th quarter worth approximately $209,000.

Invesco Next Gen Connectivity ETF Trading Down 3.0%

Shares of KNCT opened at $211.77 on Friday. The company has a market capitalization of $167.30 million, a PE ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a 12 month low of $108.92 and a 12 month high of $219.83. The stock’s 50-day moving average price is $172.75 and its two-hundred day moving average price is $151.03.

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.