Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG) Sees Significant Decline in Short Interest

by · The Cerbat Gem

Invesco S&P 500 Top 50 ETF (NYSEARCA:XLG – Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 792,600 shares, a decrease of 31.1% from the September 30th total of 1,150,000 shares. Based on an average daily volume of 1,869,400 shares, the short-interest ratio is presently 0.4 days. Currently, 0.4% of the shares of the stock are sold short. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 1,869,400 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Soundwatch Capital LLC acquired a new stake in shares of Invesco S&P 500 Top 50 ETF during the second quarter worth approximately $1,790,000. Bank of New York Mellon Corp acquired a new stake in shares of Invesco S&P 500 Top 50 ETF during the first quarter worth approximately $110,557,000. Invesco Ltd. increased its holdings in shares of Invesco S&P 500 Top 50 ETF by 212.9% during the first quarter. Invesco Ltd. now owns 3,363,435 shares of the company’s stock worth $154,785,000 after buying an additional 2,288,508 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in shares of Invesco S&P 500 Top 50 ETF by 85.0% during the second quarter. Principle Wealth Partners LLC now owns 2,682,223 shares of the company’s stock worth $139,744,000 after buying an additional 1,232,337 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco S&P 500 Top 50 ETF by 225.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,720,414 shares of the company’s stock worth $79,173,000 after buying an additional 1,192,557 shares in the last quarter.

Invesco S&P 500 Top 50 ETF Trading Down 0.9%

NYSEARCA:XLG traded down $0.54 during mid-day trading on Tuesday, hitting $59.59. The company’s stock had a trading volume of 703,030 shares, compared to its average volume of 2,204,459. Invesco S&P 500 Top 50 ETF has a fifty-two week low of $39.50 and a fifty-two week high of $60.63. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 27.80 and a beta of 1.03. The stock has a fifty day moving average of $57.27 and a 200-day moving average of $53.01.

About Invesco S&P 500 Top 50 ETF

(Get Free Report)

Guggenheim Russell Top 50 Mega Cap ETF (the Fund), formerly Rydex Russell Top 50 ETF, seeks to replicate as closely as possible the performance of the Russell Top 50 Index (the Index). The Index is an unmanaged capitalization-weighted index consisting of the 50 largest companies in the Russell 3000 Index.

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