Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT – Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 564 shares, a growth of 116.1% from the July 15th total of 261 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 4,050 shares, the short-interest ratio is presently 0.1 days.
Hedge Funds Weigh In On Invesco Next Gen Connectivity ETF
Several hedge funds have recently added to or reduced their stakes in KNCT. Advisory Services Network LLC bought a new position in Invesco Next Gen Connectivity ETF during the third quarter worth about $25,000. Assetmark Inc. bought a new stake in shares of Invesco Next Gen Connectivity ETF in the 4th quarter valued at about $29,000. International Assets Investment Management LLC bought a new stake in shares of Invesco Next Gen Connectivity ETF in the 4th quarter valued at about $81,000. Royal Bank of Canada acquired a new stake in shares of Invesco Next Gen Connectivity ETF in the 4th quarter valued at approximately $159,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Invesco Next Gen Connectivity ETF in the 4th quarter valued at approximately $209,000.
Invesco Next Gen Connectivity ETF Price Performance
Shares of KNCT stock traded down $1.50 during trading hours on Friday, reaching $200.77. The company had a trading volume of 1,378 shares, compared to its average volume of 4,686. Invesco Next Gen Connectivity ETF has a 1-year low of $115.37 and a 1-year high of $219.83. The firm has a market cap of $164.63 million, a price-to-earnings ratio of 24.46 and a beta of 1.12. The company has a 50 day moving average of $198.35 and a 200 day moving average of $173.61.
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.
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