Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Stock Short Interest Jumps 642.3%

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 27,947 shares, an increase of 642.3% from the October 15th total of 3,765 shares. Based on an average trading volume of 29,623 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.6% of the company’s shares are short sold.

Invesco Pharmaceuticals ETF Stock Performance

PJP opened at $130.51 on Friday. The company has a fifty day moving average price of $125.85 and a two-hundred day moving average price of $115.56. Invesco Pharmaceuticals ETF has a 52 week low of $99.05 and a 52 week high of $132.59. The firm has a market capitalization of $604.26 million, a PE ratio of 28.57 and a beta of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the third quarter worth $25,000. Latitude Advisors LLC acquired a new position in Invesco Pharmaceuticals ETF in the third quarter valued at about $29,000. Fifth Third Bancorp acquired a new position in Invesco Pharmaceuticals ETF in the first quarter valued at about $36,000. Global Assets Advisory LLC acquired a new position in Invesco Pharmaceuticals ETF in the first quarter valued at about $42,000. Finally, Financial Freedom LLC bought a new position in Invesco Pharmaceuticals ETF during the third quarter worth about $48,000.

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.