Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sees Large Drop in Short Interest

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 283,816 shares, a drop of 32.9% from the June 30th total of 422,703 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 1,020,985 shares, the short-interest ratio is currently 0.3 days.

Invesco S&P 500 Top 50 ETF Trading Up 1.1%

NYSEARCA:XLG opened at $60.77 on Friday. Invesco S&P 500 Top 50 ETF has a twelve month low of $52.60 and a twelve month high of $64.77. The company has a market cap of $10.60 billion, a PE ratio of 27.80 and a beta of 1.06. The company’s 50 day moving average is $61.52 and its two-hundred day moving average is $59.48.

Hedge Funds Weigh In On Invesco S&P 500 Top 50 ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in shares of Invesco S&P 500 Top 50 ETF by 444.6% in the first quarter. Jane Street Group LLC now owns 182,870 shares of the company’s stock valued at $8,416,000 after purchasing an additional 149,290 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Invesco S&P 500 Top 50 ETF by 151.8% during the second quarter. Russell Investments Group Ltd. now owns 1,536 shares of the company’s stock worth $80,000 after purchasing an additional 926 shares during the period. Marshall Wace LLP acquired a new stake in shares of Invesco S&P 500 Top 50 ETF during the second quarter worth about $7,118,000. Qube Research & Technologies Ltd lifted its holdings in shares of Invesco S&P 500 Top 50 ETF by 230.7% during the second quarter. Qube Research & Technologies Ltd now owns 9,629 shares of the company’s stock worth $502,000 after purchasing an additional 6,717 shares during the period. Finally, Main Street Financial Solutions LLC boosted its position in Invesco S&P 500 Top 50 ETF by 98.2% in the second quarter. Main Street Financial Solutions LLC now owns 13,896 shares of the company’s stock valued at $724,000 after buying an additional 6,886 shares during the last quarter.

Invesco S&P 500 Top 50 ETF Company Profile

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index. The Russell 3000 Index is an unmanaged capitalization-weighted index that offers investors access to the United States equity universe representing approximately 98% of the United States equity market.