Short Interest in Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) Declines By 52.6%

Invesco S&P 500 Equal Weight Materials ETF (NYSEARCA:RSPM) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 8,122 shares, a decrease of 52.6% from the May 31st total of 17,134 shares. Based on an average daily volume of 11,825 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Materials ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new stake in shares of Invesco S&P 500 Equal Weight Materials ETF in the 4th quarter valued at approximately $27,000. Nemes Rush Group LLC bought a new stake in Invesco S&P 500 Equal Weight Materials ETF in the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its stake in Invesco S&P 500 Equal Weight Materials ETF by 591.0% during the first quarter. Jones Financial Companies Lllp now owns 4,630 shares of the company’s stock worth $141,000 after buying an additional 3,960 shares during the period. Ameriprise Financial Inc. bought a new position in Invesco S&P 500 Equal Weight Materials ETF during the second quarter valued at $212,000. Finally, IMC Chicago LLC bought a new position in Invesco S&P 500 Equal Weight Materials ETF during the first quarter valued at $267,000.

Invesco S&P 500 Equal Weight Materials ETF Price Performance

Shares of RSPM stock traded up $0.10 during trading hours on Tuesday, reaching $38.64. 9,439 shares of the company traded hands, compared to its average volume of 28,625. The company has a market cap of $178.90 million, a P/E ratio of 21.25 and a beta of 0.92. Invesco S&P 500 Equal Weight Materials ETF has a 12-month low of $30.98 and a 12-month high of $41.42. The firm has a 50-day moving average price of $39.18 and a 200 day moving average price of $38.16.

Invesco S&P 500 Equal Weight Materials ETF Company Profile

The Invesco S&P 500 Equal Weight Materials ETF (RSPM) is an exchange-traded fund that is based on the S&P 500 Equal Weighted / Materials index. The fund tracks an equal-weighted index of US materials companies in the S&P 500. RSPM was launched on Nov 1, 2006 and is managed by Invesco.