Short Interest in Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Drops By 16.2%

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 506,028 shares, a drop of 16.2% from the November 30th total of 603,957 shares. Based on an average daily volume of 386,249 shares, the days-to-cover ratio is presently 1.3 days. Approximately 10.6% of the shares of the stock are short sold. Approximately 10.6% of the shares of the stock are short sold. Based on an average daily volume of 386,249 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPHB. Allianz SE purchased a new position in shares of Invesco S&P 500 High Beta ETF during the 2nd quarter worth $21,799,000. BNP Paribas Financial Markets lifted its position in Invesco S&P 500 High Beta ETF by 19.6% in the third quarter. BNP Paribas Financial Markets now owns 170,536 shares of the company’s stock valued at $18,725,000 after buying an additional 27,943 shares during the last quarter. Royal Bank of Canada lifted its position in Invesco S&P 500 High Beta ETF by 13.3% in the first quarter. Royal Bank of Canada now owns 137,049 shares of the company’s stock valued at $10,726,000 after buying an additional 16,132 shares during the last quarter. Axiom Financial Strategies LLC purchased a new position in Invesco S&P 500 High Beta ETF during the third quarter worth about $14,891,000. Finally, Citadel Advisors LLC increased its position in shares of Invesco S&P 500 High Beta ETF by 0.5% during the third quarter. Citadel Advisors LLC now owns 101,679 shares of the company’s stock valued at $11,164,000 after acquiring an additional 510 shares during the last quarter.

Invesco S&P 500 High Beta ETF Trading Down 0.4%

SPHB stock opened at $118.24 on Wednesday. The business’s 50-day moving average is $114.59 and its 200 day moving average is $107.86. Invesco S&P 500 High Beta ETF has a 12-month low of $64.40 and a 12-month high of $121.11. The stock has a market cap of $565.19 million, a price-to-earnings ratio of 20.84 and a beta of 1.47.

Invesco S&P 500 High Beta ETF Company Profile

The Invesco S&P 500 High Beta ETF (SPHB) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund tracks a beta-weighted index of the 100 highest-beta stocks in the S&P 500. SPHB was launched on May 5, 2011 and is managed by Invesco.