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

Invesco S&P 500 Equal Weight Communication Services ETF (NYSEARCA:RSPC) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 17,953 shares, a decline of 34.4% from the May 31st total of 27,347 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 26,820 shares, the short-interest ratio is currently 0.7 days.

Invesco S&P 500 Equal Weight Communication Services ETF Price Performance

NYSEARCA RSPC opened at $36.23 on Friday. The stock has a market capitalization of $60.50 million, a PE ratio of 17.69 and a beta of 0.87. The business has a 50 day simple moving average of $37.04 and a two-hundred day simple moving average of $38.08. Invesco S&P 500 Equal Weight Communication Services ETF has a 1-year low of $34.88 and a 1-year high of $41.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new stake in Invesco S&P 500 Equal Weight Communication Services ETF in the fourth quarter worth $37,000. Raleigh Capital Management Inc. bought a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the 1st quarter worth about $57,000. Jane Street Group LLC purchased a new stake in shares of Invesco S&P 500 Equal Weight Communication Services ETF during the 1st quarter valued at about $206,000. Lido Advisors LLC raised its position in shares of Invesco S&P 500 Equal Weight Communication Services ETF by 5.0% during the 1st quarter. Lido Advisors LLC now owns 6,869 shares of the company’s stock valued at $257,000 after buying an additional 326 shares in the last quarter. Finally, Hills Bank & Trust Co bought a new position in shares of Invesco S&P 500 Equal Weight Communication Services ETF in the 4th quarter valued at about $292,000.

About Invesco S&P 500 Equal Weight Communication Services ETF

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.