Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG) Sees Significant Growth in Short Interest

Invesco S&P 500 Pure Growth ETF (NYSEARCA:RPG) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 275,473 shares, a growth of 120.8% from the April 30th total of 124,780 shares. Based on an average daily trading volume, of 653,946 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s stock are sold short.

Invesco S&P 500 Pure Growth ETF Trading Up 0.7%

Shares of RPG traded up $0.40 during midday trading on Friday, reaching $60.12. 240,854 shares of the stock were exchanged, compared to its average volume of 427,469. Invesco S&P 500 Pure Growth ETF has a 52 week low of $42.32 and a 52 week high of $60.19. The company’s 50 day moving average is $53.18 and its two-hundred day moving average is $49.71. The company has a market capitalization of $2.09 billion, a P/E ratio of 24.25 and a beta of 1.21.

Hedge Funds Weigh In On Invesco S&P 500 Pure Growth ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in RPG. Founders Financial Alliance LLC grew its position in shares of Invesco S&P 500 Pure Growth ETF by 354.9% during the 3rd quarter. Founders Financial Alliance LLC now owns 514 shares of the company’s stock worth $25,000 after buying an additional 401 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Invesco S&P 500 Pure Growth ETF during the 4th quarter worth $29,000. Arax Advisory Partners purchased a new stake in Invesco S&P 500 Pure Growth ETF in the fourth quarter valued at about $39,000. Financial Life Planners purchased a new stake in Invesco S&P 500 Pure Growth ETF in the first quarter valued at about $44,000. Finally, Aventura Private Wealth LLC purchased a new stake in Invesco S&P 500 Pure Growth ETF in the fourth quarter valued at about $47,000.

Invesco S&P 500 Pure Growth ETF Company Profile

Guggenheim S&P 500 Pure Growth ETF, formerly Rydex S&P 500 Pure Growth ETF, seeks to replicate as closely as possible the performance of the S&P 500 Pure Growth Index (the Index). The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowings for investment purposes, in the equity securities (and derivatives thereof) included in the Index.