Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) Sees Large Decline in Short Interest

Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 16,227 shares, a drop of 34.9% from the February 26th total of 24,932 shares. Based on an average trading volume of 52,671 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Invesco AI and Next Gen Software ETF Stock Performance

Shares of Invesco AI and Next Gen Software ETF stock opened at $56.92 on Friday. The firm has a fifty day moving average of $62.64 and a two-hundred day moving average of $59.53. The stock has a market capitalization of $627.83 million, a price-to-earnings ratio of 28.76 and a beta of 1.13. Invesco AI and Next Gen Software ETF has a 52 week low of $33.80 and a 52 week high of $67.01.

Hedge Funds Weigh In On Invesco AI and Next Gen Software ETF

Several institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its position in shares of Invesco AI and Next Gen Software ETF by 9.6% in the 4th quarter. LPL Financial LLC now owns 449,076 shares of the company’s stock valued at $26,707,000 after acquiring an additional 39,155 shares during the period. Journey Strategic Wealth LLC grew its holdings in Invesco AI and Next Gen Software ETF by 7.8% during the third quarter. Journey Strategic Wealth LLC now owns 303,057 shares of the company’s stock valued at $16,374,000 after purchasing an additional 21,899 shares during the period. Berkshire Money Management Inc. grew its holdings in Invesco AI and Next Gen Software ETF by 0.9% during the fourth quarter. Berkshire Money Management Inc. now owns 245,620 shares of the company’s stock valued at $14,607,000 after purchasing an additional 2,105 shares during the period. Bank of America Corp DE increased its stake in Invesco AI and Next Gen Software ETF by 5.9% in the third quarter. Bank of America Corp DE now owns 161,385 shares of the company’s stock valued at $8,720,000 after purchasing an additional 8,953 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in Invesco AI and Next Gen Software ETF by 7.8% in the fourth quarter. Osaic Holdings Inc. now owns 133,192 shares of the company’s stock valued at $7,921,000 after purchasing an additional 9,602 shares in the last quarter.

About Invesco AI and Next Gen Software ETF

The Invesco AI and Next Gen Software ETF (IGPT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an index of securities that derive more than 50% of their revenue to the future media industry. These components may be from any market-cap, and from any geography. IGPT was launched on Jun 23, 2005 and is issued by Invesco.