Invesco CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC) Sees Significant Drop in Short Interest

Invesco CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 66,127 shares, a decrease of 38.7% from the July 15th total of 107,918 shares. Based on an average daily trading volume, of 41,769 shares, the days-to-cover ratio is currently 1.6 days. Currently, 6.6% of the company’s shares are sold short.

Invesco CurrencyShares Canadian Dollar Trust Price Performance

Shares of FXC stock traded up $0.40 on Wednesday, reaching $70.72. 20,944 shares of the company’s stock were exchanged, compared to its average volume of 44,291. The company’s fifty day simple moving average is $69.45 and its 200 day simple moving average is $70.58. Invesco CurrencyShares Canadian Dollar Trust has a 52 week low of $68.64 and a 52 week high of $72.47.

Invesco CurrencyShares Canadian Dollar Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 7th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.0069 per share. This is an increase from Invesco CurrencyShares Canadian Dollar Trust’s previous monthly dividend of $0.01. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, August 3rd.

Hedge Funds Weigh In On Invesco CurrencyShares Canadian Dollar Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of Invesco CurrencyShares Canadian Dollar Trust by 45.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 725 shares of the exchange traded fund’s stock worth $49,000 after buying an additional 225 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Invesco CurrencyShares Canadian Dollar Trust during the 3rd quarter worth about $204,000. Bank of America Corp DE increased its position in Invesco CurrencyShares Canadian Dollar Trust by 38.7% during the 1st quarter. Bank of America Corp DE now owns 4,702 shares of the exchange traded fund’s stock valued at $330,000 after purchasing an additional 1,311 shares during the period. Charles Schwab Trust Co purchased a new position in Invesco CurrencyShares Canadian Dollar Trust during the 2nd quarter valued at about $345,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Invesco CurrencyShares Canadian Dollar Trust during the 4th quarter valued at about $854,000.

Invesco CurrencyShares Canadian Dollar Trust Company Profile

Guggenheim CurrencyShares Canadian Dollar Trust, formerly CurrencyShares Canadian Dollar Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of Canadian dollars and distributes Canadian dollars in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of Canadian Dollars. The Bank of New York Mellon serves as the Trustee. The Trust’s sponsor is Rydex Specialized Products LLC, which is doing business as Rydex Investments.