Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) Sees Significant Drop in Short Interest

Invesco S&P 500 Equal Weight Utilities ETF (NYSEARCA:RSPU) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 18,911 shares, a decline of 17.4% from the February 12th total of 22,900 shares. Based on an average trading volume of 43,304 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 43,304 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Invesco S&P 500 Equal Weight Utilities ETF by 562.9% in the 2nd quarter. Bank of America Corp DE now owns 412,381 shares of the company’s stock worth $29,329,000 after buying an additional 350,174 shares during the period. Denver Wealth Management Inc. increased its stake in shares of Invesco S&P 500 Equal Weight Utilities ETF by 584.4% during the fourth quarter. Denver Wealth Management Inc. now owns 95,156 shares of the company’s stock valued at $7,116,000 after buying an additional 81,253 shares during the period. RM Financial Services LLC purchased a new position in shares of Invesco S&P 500 Equal Weight Utilities ETF during the fourth quarter valued at approximately $3,080,000. NewEdge Advisors LLC raised its holdings in shares of Invesco S&P 500 Equal Weight Utilities ETF by 57.5% during the second quarter. NewEdge Advisors LLC now owns 110,055 shares of the company’s stock valued at $7,827,000 after acquiring an additional 40,159 shares in the last quarter. Finally, Redstone Wealth Management LLC bought a new position in shares of Invesco S&P 500 Equal Weight Utilities ETF during the fourth quarter valued at approximately $2,629,000.

Invesco S&P 500 Equal Weight Utilities ETF Stock Up 0.6%

Shares of NYSEARCA:RSPU traded up $0.49 during midday trading on Monday, hitting $83.47. 48,179 shares of the stock traded hands, compared to its average volume of 45,514. The business’s 50 day moving average is $79.06 and its two-hundred day moving average is $77.33. The stock has a market capitalization of $549.23 million, a PE ratio of 18.42 and a beta of 0.61. Invesco S&P 500 Equal Weight Utilities ETF has a one year low of $62.64 and a one year high of $84.52.

About Invesco S&P 500 Equal Weight Utilities ETF

The Invesco S&P 500 Equal Weight Utilities ETF (RSPU) is an exchange-traded fund that mostly invests in utilities equity. The fund tracks an equal-weighted index of S&P 500 utilities companies. RSPU was launched on Nov 1, 2006 and is managed by Invesco.