Short Interest in Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Declines By 34.4%

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 17,953 shares, a drop of 34.4% from the May 31st total of 27,347 shares. Based on an average trading volume of 26,820 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RSPC. NewEdge Advisors LLC raised its holdings in Invesco S&P 500 Equal Weight Communication Services ETF by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 170,196 shares of the company’s stock valued at $6,366,000 after buying an additional 4,368 shares during the last quarter. Lido Advisors LLC grew its holdings in Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% in the 1st quarter. Lido Advisors LLC now owns 6,869 shares of the company’s stock worth $257,000 after acquiring an additional 326 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the first quarter valued at about $57,000. Private Advisor Group LLC increased its position in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 95.5% in the first quarter. Private Advisor Group LLC now owns 21,453 shares of the company’s stock valued at $802,000 after acquiring an additional 10,482 shares during the period. Finally, Walker Asset Management LLC raised its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 6.7% during the first quarter. Walker Asset Management LLC now owns 23,812 shares of the company’s stock valued at $891,000 after acquiring an additional 1,497 shares during the last quarter.

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

Shares of Invesco S&P 500 Equal Weight Communication Services ETF stock opened at $35.92 on Thursday. Invesco S&P 500 Equal Weight Communication Services ETF has a one year low of $34.88 and a one year high of $41.47. The business’s 50 day simple moving average is $37.15 and its two-hundred day simple moving average is $38.12. The stock has a market capitalization of $59.99 million, a P/E ratio of 17.69 and a beta of 0.87.

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.