Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Short Interest Update

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 1,054 shares, an increase of 86.9% from the July 30th total of 564 shares. Based on an average daily volume of 2,551 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Fulcrum Equity Management boosted its position in Invesco Next Gen Connectivity ETF by 8.0% during the 2nd quarter. Fulcrum Equity Management now owns 2,063 shares of the company’s stock valued at $435,000 after acquiring an additional 153 shares in the last quarter. Advisory Services Network LLC bought a new position in Invesco Next Gen Connectivity ETF in the third quarter worth $25,000. Private Advisor Group LLC lifted its position in Invesco Next Gen Connectivity ETF by 7.0% during the first quarter. Private Advisor Group LLC now owns 4,104 shares of the company’s stock valued at $569,000 after buying an additional 270 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Invesco Next Gen Connectivity ETF by 6.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,204 shares of the company’s stock valued at $1,098,000 after buying an additional 320 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Invesco Next Gen Connectivity ETF by 150.7% during the 1st quarter. Assetmark Inc. now owns 544 shares of the company’s stock valued at $75,000 after buying an additional 327 shares in the last quarter.

Invesco Next Gen Connectivity ETF Stock Performance

KNCT traded down $3.04 on Friday, hitting $196.34. 1,217 shares of the company were exchanged, compared to its average volume of 4,609. The firm has a fifty day simple moving average of $196.57 and a two-hundred day simple moving average of $177.38. Invesco Next Gen Connectivity ETF has a 12 month low of $117.11 and a 12 month high of $219.83. The stock has a market capitalization of $161.00 million, a PE ratio of 24.46 and a beta of 1.12.

Invesco Next Gen Connectivity ETF Company Profile

The Invesco Next Gen Connectivity ETF (KNCT) is an exchange-traded fund that mostly invests in information technology equity. The fund is passively managed, tracking an index comprised of stocks of companies that derive at least 50% of their revenue from future connectivity technologies and products globally. Fund holdings are selected and weighted based on amount of revenue tied to the segment and market capitalization KNCT was launched on Jun 23, 2005 and is issued by Invesco.