Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) Stock Short Interest Falls 71.2%

Invesco Next Gen Connectivity ETF (NYSEARCA:KNCT) was the recipient of a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 1,149 shares, a drop of 71.2% from the October 15th total of 3,986 shares. Based on an average daily trading volume, of 2,088 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KNCT. Assetmark Inc. increased its stake in Invesco Next Gen Connectivity ETF by 150.7% in the first quarter. Assetmark Inc. now owns 544 shares of the company’s stock valued at $75,000 after purchasing an additional 327 shares in the last quarter. Independent Financial Group LLC acquired a new stake in Invesco Next Gen Connectivity ETF in the first quarter worth $280,000. NTV Asset Management LLC acquired a new stake in Invesco Next Gen Connectivity ETF in the third quarter worth $307,000. Vision Capital Management Inc. bought a new position in shares of Invesco Next Gen Connectivity ETF during the third quarter worth $307,000. Finally, Greenline Wealth Management LLC bought a new position in shares of Invesco Next Gen Connectivity ETF during the third quarter worth $337,000.

Invesco Next Gen Connectivity ETF Price Performance

Shares of Invesco Next Gen Connectivity ETF stock traded down $3.04 during trading on Friday, hitting $176.49. 10,903 shares of the company were exchanged, compared to its average volume of 4,802. The firm has a market capitalization of $139.43 million, a P/E ratio of 24.46 and a beta of 1.14. Invesco Next Gen Connectivity ETF has a 1-year low of $126.32 and a 1-year high of $219.83. The firm’s fifty day moving average price is $194.83 and its 200 day moving average price is $180.39.

About Invesco Next Gen Connectivity ETF

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.