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 increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,340 shares, an increase of 680.4% from the September 15th total of 428 shares. Based on an average trading volume of 3,176 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.4% of the company’s shares are sold short.

Invesco Next Gen Connectivity ETF Stock Up 0.6%

NYSEARCA KNCT traded up $1.22 on Friday, reaching $206.41. The stock had a trading volume of 630 shares, compared to its average volume of 4,258. The firm has a market capitalization of $165.13 million, a price-to-earnings ratio of 24.46 and a beta of 1.11. Invesco Next Gen Connectivity ETF has a 12-month low of $126.32 and a 12-month high of $219.83. The stock has a fifty day moving average price of $200.21 and a two-hundred day moving average price of $189.37.

Institutional Investors Weigh In On Invesco Next Gen Connectivity ETF

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers acquired a new position in Invesco Next Gen Connectivity ETF in the 1st quarter valued at about $1,885,000. Independent Financial Group LLC acquired a new stake in shares of Invesco Next Gen Connectivity ETF during the first quarter worth about $280,000. Equitable Trust Co. acquired a new stake in shares of Invesco Next Gen Connectivity ETF during the first quarter worth about $226,000. Sound Income Strategies LLC boosted its stake in shares of Invesco Next Gen Connectivity ETF by 109.4% in the third quarter. Sound Income Strategies LLC now owns 2,140 shares of the company’s stock valued at $439,000 after purchasing an additional 1,118 shares during the period. Finally, Assetmark Inc. boosted its stake 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 valued at $75,000 after purchasing an additional 327 shares during the period.

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.