Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Sees Significant Growth in Short Interest

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 207,033 shares, a growth of 538.9% from the May 14th total of 32,404 shares. Based on an average daily volume of 223,301 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in Invesco AI and Next Gen Software ETF by 13.7% during the fourth quarter. Harbour Investments Inc. now owns 1,690 shares of the company’s stock worth $101,000 after buying an additional 203 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Invesco AI and Next Gen Software ETF by 71.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 570 shares of the company’s stock worth $34,000 after buying an additional 237 shares in the last quarter. HighTower Advisors LLC lifted its position in Invesco AI and Next Gen Software ETF by 6.5% during the fourth quarter. HighTower Advisors LLC now owns 4,897 shares of the company’s stock worth $291,000 after buying an additional 301 shares in the last quarter. Aspen Investment Management Inc lifted its position in Invesco AI and Next Gen Software ETF by 4.2% during the first quarter. Aspen Investment Management Inc now owns 7,761 shares of the company’s stock worth $451,000 after buying an additional 314 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Invesco AI and Next Gen Software ETF by 1.0% during the third quarter. Kestra Private Wealth Services LLC now owns 35,162 shares of the company’s stock worth $1,900,000 after buying an additional 331 shares in the last quarter.

Invesco AI and Next Gen Software ETF Trading Up 6.7%

IGPT stock traded up $6.12 during midday trading on Thursday, reaching $96.88. The stock had a trading volume of 223,483 shares, compared to its average volume of 100,630. The company’s fifty day simple moving average is $82.14 and its 200 day simple moving average is $68.55. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 28.76 and a beta of 1.42. Invesco AI and Next Gen Software ETF has a 52-week low of $45.91 and a 52-week high of $102.93.

Invesco AI and Next Gen Software ETF Company Profile

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.