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

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) saw a large growth in short interest in October. As of October 30th, there was short interest totaling 12,563 shares, a growth of 145.9% from the October 15th total of 5,108 shares. Based on an average daily volume of 8,236 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.8% of the shares of the company are short sold.

Invesco S&P 500 Equal Weight Communication Services ETF Price Performance

NYSEARCA RSPC traded up $0.46 on Friday, hitting $36.65. 242 shares of the company’s stock were exchanged, compared to its average volume of 11,984. The firm has a market cap of $55.71 million, a price-to-earnings ratio of 13.90 and a beta of 0.92. The firm’s 50-day moving average price is $35.55 and its two-hundred day moving average price is $36.90. Invesco S&P 500 Equal Weight Communication Services ETF has a fifty-two week low of $33.67 and a fifty-two week high of $40.13.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Invesco S&P 500 Equal Weight Communication Services ETF in the third quarter valued at $6,946,000. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the 3rd quarter worth $789,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the 3rd quarter worth $32,000. Park Avenue Securities LLC acquired a new position in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the 3rd quarter worth $1,056,000. Finally, Walker Asset Management LLC grew its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% during the 2nd quarter. Walker Asset Management LLC now owns 25,000 shares of the company’s stock worth $882,000 after purchasing an additional 1,188 shares during the period.

About Invesco S&P 500 Equal Weight Communication Services ETF

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.