Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) Sees Significant Increase in Short Interest

Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 317,877 shares, a growth of 75.1% from the August 15th total of 181,518 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 148,307 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QQQJ. Texas Yale Capital Corp. boosted its stake in shares of Invesco NASDAQ Next Gen 100 ETF by 0.7% in the 4th quarter. Texas Yale Capital Corp. now owns 45,340 shares of the company’s stock valued at $1,671,000 after purchasing an additional 325 shares in the last quarter. Allworth Financial LP boosted its position in Invesco NASDAQ Next Gen 100 ETF by 183.3% during the fourth quarter. Allworth Financial LP now owns 850 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. International Assets Investment Management LLC bought a new position in shares of Invesco NASDAQ Next Gen 100 ETF during the fourth quarter valued at about $26,000. Kingsview Wealth Management LLC grew its stake in shares of Invesco NASDAQ Next Gen 100 ETF by 9.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,693 shares of the company’s stock valued at $320,000 after buying an additional 737 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Invesco NASDAQ Next Gen 100 ETF by 13.8% in the fourth quarter. Truist Financial Corp now owns 8,782 shares of the company’s stock worth $324,000 after buying an additional 1,067 shares during the period.

Invesco NASDAQ Next Gen 100 ETF Stock Performance

QQQJ traded up $0.69 during mid-day trading on Thursday, reaching $44.62. 88,956 shares of the stock were exchanged, compared to its average volume of 172,551. The stock has a market capitalization of $1.18 billion, a PE ratio of 22.27 and a beta of 1.13. The company has a 50 day moving average price of $44.99 and a two-hundred day moving average price of $42.38. Invesco NASDAQ Next Gen 100 ETF has a 1 year low of $34.39 and a 1 year high of $46.94.

About Invesco NASDAQ Next Gen 100 ETF

The Invesco NASDAQ Next Gen 100 ETF (QQQJ) is an exchange-traded fund that is based on the Nasdaq Next Generation 100 index, a modified market-cap-weighted, narrow index of 100 non-financial stocks that are next-eligible for inclusion in the NASDAQ-100 Index. QQQJ was launched on Oct 13, 2020 and is issued by Invesco.