Short Interest in Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Drops By 78.3%

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 5,304 shares, a decrease of 78.3% from the July 15th total of 24,473 shares. Based on an average daily volume of 10,101 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Invesco Dorsey Wright Financial Momentum ETF

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in shares of Invesco Dorsey Wright Financial Momentum ETF by 0.6% in the 1st quarter. Bank of America Corp DE now owns 53,417 shares of the company’s stock worth $2,845,000 after acquiring an additional 294 shares during the period. IMC Chicago LLC lifted its position in Invesco Dorsey Wright Financial Momentum ETF by 16.1% in the first quarter. IMC Chicago LLC now owns 37,451 shares of the company’s stock worth $1,994,000 after purchasing an additional 5,195 shares during the period. Ameriprise Financial Inc. bought a new position in Invesco Dorsey Wright Financial Momentum ETF during the 3rd quarter valued at $1,145,000. AlphaCore Capital LLC bought a new position in Invesco Dorsey Wright Financial Momentum ETF during the 4th quarter valued at $1,030,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Invesco Dorsey Wright Financial Momentum ETF during the 3rd quarter valued at $502,000.

Invesco Dorsey Wright Financial Momentum ETF Price Performance

Shares of PFI traded up $0.35 during trading hours on Thursday, reaching $63.58. 2,978 shares of the company’s stock traded hands, compared to its average volume of 7,975. Invesco Dorsey Wright Financial Momentum ETF has a twelve month low of $51.57 and a twelve month high of $64.46. The business’s fifty day simple moving average is $61.74 and its two-hundred day simple moving average is $58.30. The firm has a market capitalization of $60.40 million, a price-to-earnings ratio of 18.63 and a beta of 1.01.

About Invesco Dorsey Wright Financial Momentum ETF

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.