Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Stock Short Interest Drops 46.9%

Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 12,266 shares, a decrease of 46.9% from the August 31st total of 23,089 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 21,309 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Invesco Biotechnology & Genome ETF

Several large investors have recently made changes to their positions in PBE. Royal Bank of Canada grew its holdings in shares of Invesco Biotechnology & Genome ETF by 25.9% in the 1st quarter. Royal Bank of Canada now owns 59,329 shares of the company’s stock worth $4,698,000 after purchasing an additional 12,215 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Invesco Biotechnology & Genome ETF in the second quarter valued at about $484,000. Wharton Business Group LLC bought a new stake in Invesco Biotechnology & Genome ETF in the 4th quarter valued at approximately $225,000. Integrated Wealth Concepts LLC bought a new position in Invesco Biotechnology & Genome ETF in the second quarter valued at approximately $84,000. Finally, Envestnet Asset Management Inc. increased its position in Invesco Biotechnology & Genome ETF by 4.2% during the second quarter. Envestnet Asset Management Inc. now owns 22,250 shares of the company’s stock worth $1,995,000 after buying an additional 888 shares during the last quarter.

Invesco Biotechnology & Genome ETF Price Performance

Shares of PBE traded down $2.19 during trading hours on Thursday, reaching $95.10. 13,164 shares of the company’s stock traded hands, compared to its average volume of 13,887. Invesco Biotechnology & Genome ETF has a twelve month low of $70.01 and a twelve month high of $98.82. The firm has a market capitalization of $414.64 million, a price-to-earnings ratio of 20.44 and a beta of 0.70. The business’s fifty day simple moving average is $94.90 and its two-hundred day simple moving average is $87.39.

About Invesco Biotechnology & Genome ETF

PowerShares Dynamic Biotechnology & Genome Portfolio (the Fund) is based on the Dynamic Biotechnology & Genome Intellidex Index (the Index). The Fund seeks investment results that correspond generally to the price and yield of the Index. The Index consists of stocks of 30 the United States biotechnology and genome companies. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.