Short Interest in Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Expands By 86.9%

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 1,054 shares, a growth of 86.9% from the July 30th total of 564 shares. Based on an average trading volume of 2,551 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Invesco Next Gen Connectivity ETF Trading Up 0.7%

Shares of KNCT opened at $197.65 on Tuesday. The stock has a market cap of $162.07 million, a P/E ratio of 24.46 and a beta of 1.12. The company has a 50-day moving average of $196.18 and a two-hundred day moving average of $177.97. Invesco Next Gen Connectivity ETF has a 12-month low of $117.11 and a 12-month high of $219.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC purchased a new stake in Invesco Next Gen Connectivity ETF in the 4th quarter valued at approximately $21,522,000. LPL Financial LLC raised its holdings in shares of Invesco Next Gen Connectivity ETF by 186.2% in the fourth quarter. LPL Financial LLC now owns 24,864 shares of the company’s stock worth $3,331,000 after acquiring an additional 16,175 shares during the last quarter. Truist Financial Corp acquired a new position in shares of Invesco Next Gen Connectivity ETF in the fourth quarter worth $3,220,000. Stifel Financial Corp purchased a new stake in shares of Invesco Next Gen Connectivity ETF in the fourth quarter valued at $2,049,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Invesco Next Gen Connectivity ETF in the first quarter valued at $1,885,000.

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.