Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Sees Significant Increase in Short Interest

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 25,140 shares, an increase of 167.5% from the August 15th total of 9,397 shares. Based on an average trading volume of 5,733 shares, the short-interest ratio is presently 4.4 days. Currently, 1.6% of the company’s shares are short sold.

Invesco S&P 500 Equal Weight Communication Services ETF Stock Performance

Shares of RSPC stock traded up $0.79 on Monday, hitting $37.69. 5,776 shares of the stock traded hands, compared to its average volume of 13,039. Invesco S&P 500 Equal Weight Communication Services ETF has a twelve month low of $34.50 and a twelve month high of $41.47. The firm’s 50-day moving average price is $36.51 and its two-hundred day moving average price is $37.19. The stock has a market capitalization of $59.17 million, a PE ratio of 17.69 and a beta of 0.87.

Institutional Trading of Invesco S&P 500 Equal Weight Communication Services ETF

Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 170,196 shares of the company’s stock worth $6,366,000 after buying an additional 4,368 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in Invesco S&P 500 Equal Weight Communication Services ETF by 0.9% in the first quarter. Yoder Wealth Management Inc. now owns 33,062 shares of the company’s stock valued at $1,237,000 after acquiring an additional 282 shares during the last quarter. Walker Asset Management LLC grew its position in Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% in the second quarter. Walker Asset Management LLC now owns 25,000 shares of the company’s stock worth $882,000 after acquiring an additional 1,188 shares during the period. Private Advisor Group LLC grew its position in Invesco S&P 500 Equal Weight Communication Services ETF by 95.5% in the first quarter. Private Advisor Group LLC now owns 21,453 shares of the company’s stock worth $802,000 after acquiring an additional 10,482 shares during the period. Finally, Ruane Cunniff & Goldfarb L.P. acquired a new stake in Invesco S&P 500 Equal Weight Communication Services ETF during the fourth quarter worth $439,000.

About Invesco S&P 500 Equal Weight Communication Services ETF

The Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks an equal-weighted index of US large-cap firms engaged in communication services, selected from the S&P 500 Index. RSPC was launched on Nov 7, 2018 and is managed by Invesco.