Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Short Interest Down 70.8% in July

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 55,649 shares, a decline of 70.8% from the June 30th total of 190,327 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 160,995 shares, the short-interest ratio is presently 0.3 days.

Invesco AI and Next Gen Software ETF Stock Performance

Shares of NYSEARCA:IGPT traded down $3.34 during midday trading on Tuesday, reaching $84.12. The company had a trading volume of 201,564 shares, compared to its average volume of 126,157. The company has a fifty day simple moving average of $96.65 and a two-hundred day simple moving average of $77.22. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 28.76 and a beta of 1.40. Invesco AI and Next Gen Software ETF has a 1-year low of $48.84 and a 1-year high of $109.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco AI and Next Gen Software ETF by 788.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 104,566 shares of the company’s stock valued at $6,219,000 after acquiring an additional 92,790 shares during the period. Jane Street Group LLC acquired a new position in Invesco AI and Next Gen Software ETF in the 4th quarter worth approximately $5,401,000. Royal Bank of Canada grew its position in Invesco AI and Next Gen Software ETF by 282.1% during the 4th quarter. Royal Bank of Canada now owns 119,030 shares of the company’s stock worth $7,078,000 after purchasing an additional 87,882 shares in the last quarter. StoneCrest Wealth Management Inc. purchased a new position in Invesco AI and Next Gen Software ETF during the 2nd quarter worth approximately $7,106,000. Finally, Two Sigma Investments LP acquired a new stake in Invesco AI and Next Gen Software ETF during the 3rd quarter valued at $2,323,000.

About Invesco AI and Next Gen Software ETF

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.