Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Significant Drop in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 5,704 shares, a decline of 50.2% from the May 14th total of 11,459 shares. Based on an average daily volume of 7,413 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Trading of Invesco Dorsey Wright Utilities Momentum ETF

A number of hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its position in shares of Invesco Dorsey Wright Utilities Momentum ETF by 12.2% in the 3rd quarter. Private Advisor Group LLC now owns 6,169 shares of the company’s stock worth $283,000 after purchasing an additional 673 shares in the last quarter. ROI Financial Advisors LLC boosted its position in shares of Invesco Dorsey Wright Utilities Momentum ETF by 1.7% in the 4th quarter. ROI Financial Advisors LLC now owns 43,436 shares of the company’s stock worth $1,893,000 after purchasing an additional 735 shares in the last quarter. Fifth Third Securities Inc. boosted its position in shares of Invesco Dorsey Wright Utilities Momentum ETF by 5.9% in the 4th quarter. Fifth Third Securities Inc. now owns 17,031 shares of the company’s stock worth $742,000 after purchasing an additional 956 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Invesco Dorsey Wright Utilities Momentum ETF by 21.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,901 shares of the company’s stock worth $289,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Arax Advisory Partners bought a new stake in shares of Invesco Dorsey Wright Utilities Momentum ETF in the 4th quarter worth approximately $65,000.

Invesco Dorsey Wright Utilities Momentum ETF Stock Performance

Shares of PUI traded up $0.53 during mid-day trading on Friday, reaching $46.44. The company had a trading volume of 2,102 shares, compared to its average volume of 12,554. The firm has a 50-day moving average price of $47.18 and a 200 day moving average price of $46.14. Invesco Dorsey Wright Utilities Momentum ETF has a 52 week low of $40.88 and a 52 week high of $49.30. The company has a market capitalization of $75.70 million, a price-to-earnings ratio of 20.63 and a beta of 0.64.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a $0.2594 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.25.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index). The Fund normally invests at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as consumer discretionary, information technology, telecommunication services and utilities.