Short interest in the Invesco AI and Next Gen Software ETF (NYSEARCA:IGPT) has surged by a remarkable 50.7% in December 2023. As of December 15, the ETF had a total short interest of 14,598 shares, up from 9,685 shares recorded on November 30. This increase represents approximately 0.1% of the fund’s total outstanding shares.
The days-to-cover ratio, which indicates how long it would take to cover all short positions based on average trading volume, currently stands at 0.4 days. This figure is derived from the ETF’s average daily trading volume of 40,599 shares.
Trading Performance and Market Indicators
During trading on Tuesday, shares of the Invesco AI and Next Gen Software ETF gained 0.4%, climbing to $60.22. The trading volume reached 75,347 shares, surpassing the average volume of 56,101. The ETF’s 50-day moving average price is $58.58, while the 200-day moving average price stands at $53.93.
The Invesco AI and Next Gen Software ETF has experienced fluctuations over the past year, with a 52-week low of $33.80 and a high of $61.81. The fund currently holds a market capitalization of $650.38 million and a price-to-earnings (P/E) ratio of 28.76, with a beta of 1.13, indicating a moderate level of volatility compared to the broader market.
Institutional Investor Activity
Recent activity from institutional investors has also influenced the ETF’s market dynamics. Northwestern Mutual Wealth Management Co. increased its holdings in the Invesco AI and Next Gen Software ETF by 15.7% during the first quarter, now owning 9,586 shares valued at approximately $388,000 after acquiring an additional 1,300 shares.
In addition, Jane Street Group LLC entered the market with a new stake valued at around $2,152,000. Other notable investors include Orser Capital Management LLC and Focus Financial Network Inc., which purchased new positions worth approximately $1,466,000 and $207,000, respectively. Park Avenue Securities LLC also acquired shares in the second quarter, valued at about $258,000.
The Invesco AI and Next Gen Software ETF, launched on June 23, 2005, primarily invests in information technology equities. It tracks an index composed of companies that derive more than 50% of their revenues from the future media industry, encompassing a diverse range of market caps and geographic locations.
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