Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) Sees Large Growth in Short Interest

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) was the target of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 12,563 shares, a growth of 145.9% from the October 15th total of 5,108 shares. Based on an average daily volume of 8,236 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.8% of the shares of the company are short sold.

Invesco S&P 500 Equal Weight Communication Services ETF Stock Up 1.3%

Shares of NYSEARCA RSPC traded up $0.46 during mid-day trading on Friday, hitting $36.65. 242 shares of the company were exchanged, compared to its average volume of 11,984. The stock has a 50 day simple moving average of $35.55 and a 200-day simple moving average of $36.90. Invesco S&P 500 Equal Weight Communication Services ETF has a 1-year low of $33.67 and a 1-year high of $40.13. The firm has a market cap of $55.71 million, a price-to-earnings ratio of 13.90 and a beta of 0.92.

Hedge Funds Weigh In On Invesco S&P 500 Equal Weight Communication Services ETF

Several institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Invesco S&P 500 Equal Weight Communication Services ETF during the 3rd quarter worth $6,946,000. Park Avenue Securities LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the third quarter valued at about $1,056,000. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the third quarter valued at about $789,000. NewEdge Advisors LLC increased its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 2.6% during the first quarter. NewEdge Advisors LLC now owns 170,196 shares of the company’s stock worth $6,366,000 after acquiring an additional 4,368 shares during the period. Finally, Walker Asset Management LLC increased its stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% during the second quarter. Walker Asset Management LLC now owns 25,000 shares of the company’s stock worth $882,000 after acquiring an additional 1,188 shares during the period.

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.