Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Sees Significant Decline in Short Interest

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 11,904 shares, a drop of 52.6% from the August 31st total of 25,140 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 6,034 shares, the short-interest ratio is presently 2.0 days.

Invesco S&P 500 Equal Weight Communication Services ETF Stock Up 0.2%

NYSEARCA RSPC traded up $0.06 during trading on Wednesday, hitting $35.08. 2,146 shares of the stock traded hands, compared to its average volume of 12,479. The company has a market capitalization of $54.37 million, a P/E ratio of 17.69 and a beta of 0.87. Invesco S&P 500 Equal Weight Communication Services ETF has a 12-month low of $34.50 and a 12-month high of $40.98. The firm has a 50-day simple moving average of $36.53 and a 200-day simple moving average of $36.96.

Institutional Investors Weigh In On Invesco S&P 500 Equal Weight Communication Services ETF

Hedge funds have recently bought and sold shares of the business. Walker Asset Management LLC grew its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% in the 2nd quarter. Walker Asset Management LLC now owns 25,000 shares of the company’s stock worth $882,000 after buying an additional 1,188 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 170,196 shares of the company’s stock valued at $6,366,000 after acquiring an additional 4,368 shares during the last quarter. Lido Advisors LLC grew its position in Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% in the first quarter. Lido Advisors LLC now owns 6,869 shares of the company’s stock worth $257,000 after acquiring an additional 326 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Invesco S&P 500 Equal Weight Communication Services ETF during the first quarter worth approximately $57,000. Finally, Private Advisor Group LLC raised its position in Invesco S&P 500 Equal Weight Communication Services ETF by 95.5% during the first quarter. Private Advisor Group LLC now owns 21,453 shares of the company’s stock valued at $802,000 after purchasing an additional 10,482 shares during the period.

Invesco S&P 500 Equal Weight Communication Services ETF Company Profile

The Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks an equal-weighted index of US large-cap firms engaged in communication services, selected from the S&P 500 Index. RSPC was launched on Nov 7, 2018 and is managed by Invesco.