Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) Sees Large Drop in Short Interest

Invesco S&P 500 High Beta ETF (NYSEARCA:SPHB) was the recipient of a large drop in short interest in 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. Currently, 10.6% of the shares of the stock are sold short. Based on an average daily volume of 386,249 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 386,249 shares, the days-to-cover ratio is presently 1.3 days. Currently, 10.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Invesco S&P 500 High Beta ETF

Several institutional investors and hedge funds have recently modified their holdings of SPHB. Royal Bank of Canada grew its stake in Invesco S&P 500 High Beta ETF by 13.3% in the 1st quarter. Royal Bank of Canada now owns 137,049 shares of the company’s stock worth $10,726,000 after acquiring an additional 16,132 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Invesco S&P 500 High Beta ETF by 1,500.2% during the 1st quarter. Jones Financial Companies Lllp now owns 76,121 shares of the company’s stock worth $5,957,000 after purchasing an additional 71,364 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in shares of Invesco S&P 500 High Beta ETF by 5,429.8% during the first quarter. Coppell Advisory Solutions LLC now owns 26,377 shares of the company’s stock worth $2,064,000 after purchasing an additional 25,900 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the second quarter valued at $213,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Invesco S&P 500 High Beta ETF in the second quarter valued at $1,278,000.

Invesco S&P 500 High Beta ETF Trading Down 1.1%

NYSEARCA:SPHB opened at $116.97 on Friday. The firm has a market cap of $559.12 million, a price-to-earnings ratio of 20.84 and a beta of 1.47. The company’s 50-day moving average is $114.77 and its two-hundred day moving average is $107.99. Invesco S&P 500 High Beta ETF has a 12-month low of $64.40 and a 12-month high of $121.11.

About Invesco S&P 500 High Beta ETF

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.