Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Short Interest Down 59.0% in July

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 7,483 shares, a decline of 59.0% from the June 30th total of 18,257 shares. Based on an average daily trading volume, of 22,684 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Invesco S&P 500 Equal Weight Communication Services ETF by 305.0% during the 2nd quarter. NewEdge Advisors LLC now owns 166,495 shares of the company’s stock worth $6,370,000 after buying an additional 125,388 shares during the period. Graham Capital Wealth Management LLC acquired a new stake in Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter valued at approximately $3,600,000. Paller Financial Services Inc acquired a new stake in Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter valued at approximately $2,761,000. Blue Chip Partners LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the fourth quarter valued at approximately $2,276,000. Finally, LPL Financial LLC increased its holdings in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 89.3% during the fourth quarter. LPL Financial LLC now owns 119,262 shares of the company’s stock valued at $4,751,000 after acquiring an additional 56,264 shares in the last quarter.

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

Shares of RSPC stock opened at $34.82 on Monday. The company has a market cap of $54.67 million, a price-to-earnings ratio of 17.69 and a beta of 0.87. Invesco S&P 500 Equal Weight Communication Services ETF has a 52 week low of $34.50 and a 52 week high of $41.47. The firm has a 50 day moving average of $36.40 and a 200-day moving average of $37.66.

Invesco S&P 500 Equal Weight Communication Services ETF Company Profile

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.