Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Decline in Short Interest

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 3,765 shares, a drop of 62.1% from the September 30th total of 9,931 shares. Based on an average trading volume of 37,922 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Invesco Pharmaceuticals ETF Trading Up 1.3%

NYSEARCA PJP traded up $1.66 during midday trading on Friday, hitting $130.54. The company had a trading volume of 52,087 shares, compared to its average volume of 35,797. The company has a market capitalization of $579.60 million, a PE ratio of 15.59 and a beta of 0.44. The firm has a 50-day moving average price of $125.80 and a 200-day moving average price of $114.46. Invesco Pharmaceuticals ETF has a twelve month low of $95.43 and a twelve month high of $131.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PJP. Trek Financial LLC bought a new stake in Invesco Pharmaceuticals ETF during the third quarter worth $5,720,000. Outlook Wealth Advisors LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF in the 3rd quarter valued at $1,392,000. Partners Wealth Management LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF in the 3rd quarter valued at $299,000. North Star Investment Management Corp. bought a new position in shares of Invesco Pharmaceuticals ETF in the 3rd quarter valued at $74,000. Finally, Latitude Advisors LLC bought a new position in shares of Invesco Pharmaceuticals ETF in the 3rd quarter valued at $29,000.

Invesco Pharmaceuticals ETF Company Profile

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.