Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Sees Significant Increase in Short Interest

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

Invesco Next Gen Connectivity ETF Price Performance

NYSEARCA:KNCT traded down $3.04 during mid-day trading on Friday, hitting $196.34. 1,217 shares of the company’s stock were exchanged, compared to its average volume of 4,609. The company has a market cap of $161.00 million, a PE ratio of 24.46 and a beta of 1.12. Invesco Next Gen Connectivity ETF has a one year low of $117.11 and a one year high of $219.83. The business has a fifty day moving average price of $196.57 and a 200 day moving average price of $177.38.

Institutional Trading of Invesco Next Gen Connectivity ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fulcrum Equity Management increased its position in Invesco Next Gen Connectivity ETF by 8.0% during the 2nd quarter. Fulcrum Equity Management now owns 2,063 shares of the company’s stock valued at $435,000 after buying an additional 153 shares in the last quarter. Advisory Services Network LLC bought a new stake in Invesco Next Gen Connectivity ETF in the third quarter worth $25,000. Private Advisor Group LLC boosted its holdings in Invesco Next Gen Connectivity ETF by 7.0% in the first quarter. Private Advisor Group LLC now owns 4,104 shares of the company’s stock worth $569,000 after acquiring an additional 270 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Invesco Next Gen Connectivity ETF by 6.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,204 shares of the company’s stock worth $1,098,000 after acquiring an additional 320 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Invesco Next Gen Connectivity ETF by 150.7% in the first quarter. Assetmark Inc. now owns 544 shares of the company’s stock worth $75,000 after acquiring an additional 327 shares during the last quarter.

Invesco Next Gen Connectivity ETF Company Profile

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.