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

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 103,452 shares, a drop of 63.4% from the August 15th total of 282,957 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 111,499 shares, the short-interest ratio is currently 0.9 days.

Invesco AI and Next Gen Software ETF Price Performance

Shares of Invesco AI and Next Gen Software ETF stock traded down $2.73 on Monday, hitting $93.00. The company had a trading volume of 179,492 shares, compared to its average volume of 132,030. The firm has a market capitalization of $1.23 billion, a P/E ratio of 28.76 and a beta of 1.44. Invesco AI and Next Gen Software ETF has a twelve month low of $52.90 and a twelve month high of $109.32. The stock has a 50-day moving average of $92.34 and a 200-day moving average of $84.09.

Hedge Funds Weigh In On Invesco AI and Next Gen Software ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IGPT. Bank of America Corp DE raised its stake in shares of Invesco AI and Next Gen Software ETF by 6.4% in the 1st quarter. Bank of America Corp DE now owns 153,751 shares of the company’s stock valued at $8,927,000 after purchasing an additional 9,190 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $6,219,000 after purchasing an additional 92,790 shares during the last quarter. StoneCrest Wealth Management Inc. bought a new position in Invesco AI and Next Gen Software ETF in the second quarter valued at $7,106,000. Corient Private Wealth LP grew its position in Invesco AI and Next Gen Software ETF by 22.4% in the second quarter. Corient Private Wealth LP now owns 39,168 shares of the company’s stock valued at $4,077,000 after purchasing an additional 7,162 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in Invesco AI and Next Gen Software ETF by 5.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 38,815 shares of the company’s stock valued at $2,254,000 after buying an additional 1,933 shares during the last quarter.

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.