Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) Stock Short Interest Rises 69.0%

Invesco S&P 500 Equal Weight Technology ETF (NYSEARCA:RSPT) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 686,925 shares, an increase of 69.0% from the August 31st total of 406,491 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 456,734 shares, the short-interest ratio is currently 1.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSPT. NewEdge Advisors LLC lifted its stake in Invesco S&P 500 Equal Weight Technology ETF by 12.3% in the 2nd quarter. NewEdge Advisors LLC now owns 75,790 shares of the company’s stock valued at $4,888,000 after purchasing an additional 8,288 shares during the last quarter. Investor s Fiduciary Advisor Network LLC lifted its holdings in shares of Invesco S&P 500 Equal Weight Technology ETF by 73.6% during the second quarter. Investor s Fiduciary Advisor Network LLC now owns 56,334 shares of the company’s stock worth $3,633,000 after purchasing an additional 23,885 shares during the period. Independent Financial Group LLC acquired a new position in Invesco S&P 500 Equal Weight Technology ETF in the first quarter valued at $412,000. Optas LLC increased its stake in Invesco S&P 500 Equal Weight Technology ETF by 99.8% in the first quarter. Optas LLC now owns 37,114 shares of the company’s stock valued at $1,680,000 after purchasing an additional 18,537 shares in the last quarter. Finally, Global Wealth Strategies & Associates bought a new stake in shares of Invesco S&P 500 Equal Weight Technology ETF during the second quarter worth about $1,325,000.

Invesco S&P 500 Equal Weight Technology ETF Price Performance

NYSEARCA RSPT traded up $1.56 on Thursday, hitting $67.42. 970,483 shares of the stock were exchanged, compared to its average volume of 523,336. The company’s 50-day moving average price is $63.91 and its two-hundred day moving average price is $59.10. Invesco S&P 500 Equal Weight Technology ETF has a 52-week low of $41.45 and a 52-week high of $67.69. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 26.94 and a beta of 1.34.

About Invesco S&P 500 Equal Weight Technology ETF

The Invesco S&P 500 Equal Weight Technology ETF (RSPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index of S&P 500 technology companies. RSPT was launched on Nov 1, 2006 and is managed by Invesco.