Short Interest in Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Drops By 56.8%

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 312,982 shares, a decrease of 56.8% from the December 31st total of 724,694 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,949,343 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 2,949,343 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

Invesco S&P 500 Top 50 ETF Stock Performance

Shares of NYSEARCA:XLG traded down $0.27 during midday trading on Thursday, reaching $59.01. 8,235,413 shares of the company’s stock traded hands, compared to its average volume of 3,361,451. The company has a fifty day simple moving average of $59.12 and a two-hundred day simple moving average of $57.32. Invesco S&P 500 Top 50 ETF has a 1 year low of $39.50 and a 1 year high of $60.63. The company has a market cap of $11.51 billion, a P/E ratio of 27.80 and a beta of 1.03.

Institutional Trading of Invesco S&P 500 Top 50 ETF

Several institutional investors have recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in shares of Invesco S&P 500 Top 50 ETF during the third quarter valued at approximately $27,000. Godsey & Gibb Inc. purchased a new stake in shares of Invesco S&P 500 Top 50 ETF during the fourth quarter worth approximately $30,000. Harbor Asset Planning Inc. acquired a new position in Invesco S&P 500 Top 50 ETF in the 2nd quarter valued at $31,000. LGT Financial Advisors LLC lifted its holdings in Invesco S&P 500 Top 50 ETF by 248.5% in the 2nd quarter. LGT Financial Advisors LLC now owns 791 shares of the company’s stock valued at $41,000 after purchasing an additional 564 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Invesco S&P 500 Top 50 ETF in the 2nd quarter valued at $47,000.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.