Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) Sees Large Drop in Short Interest

Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 1,780 shares, a decline of 52.0% from the July 15th total of 3,708 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 23,512 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Invesco Dorsey Wright Energy Momentum ETF

Several hedge funds have recently made changes to their positions in PXI. Janney Montgomery Scott LLC raised its stake in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,909.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 110,613 shares of the company’s stock worth $6,587,000 after buying an additional 105,108 shares during the last quarter. IHT Wealth Management LLC purchased a new position in Invesco Dorsey Wright Energy Momentum ETF during the 4th quarter valued at about $976,000. Bank of America Corp DE raised its position in Invesco Dorsey Wright Energy Momentum ETF by 31.1% during the first quarter. Bank of America Corp DE now owns 46,068 shares of the company’s stock worth $2,743,000 after acquiring an additional 10,930 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Invesco Dorsey Wright Energy Momentum ETF during the third quarter worth about $458,000. Finally, Royal Bank of Canada lifted its holdings in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,797.9% in the first quarter. Royal Bank of Canada now owns 7,079 shares of the company’s stock valued at $422,000 after purchasing an additional 6,706 shares in the last quarter.

Invesco Dorsey Wright Energy Momentum ETF Trading Up 0.7%

PXI stock traded up $0.42 on Monday, hitting $63.51. The company’s stock had a trading volume of 1,247 shares, compared to its average volume of 18,366. The stock has a market cap of $55.89 million, a price-to-earnings ratio of 17.22 and a beta of 0.63. The firm has a 50 day moving average of $57.52 and a two-hundred day moving average of $56.98. Invesco Dorsey Wright Energy Momentum ETF has a 1 year low of $40.88 and a 1 year high of $63.55.

Invesco Dorsey Wright Energy Momentum ETF Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were issued a $0.1822 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 22nd.

About Invesco Dorsey Wright Energy Momentum ETF

PowerShares Dynamic Energy Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Energy Sector Intellidex Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as energy, materials and utilities. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors.