Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Shares Shorted: Short Interest Up 118.3% in September

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 2,072 shares, a growth of 118.3% from the August 31st total of 949 shares. Based on an average daily trading volume, of 8,892 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Trading of Invesco Dorsey Wright Financial Momentum ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. IMC Chicago LLC increased its stake in shares of Invesco Dorsey Wright Financial Momentum ETF by 16.1% in the first quarter. IMC Chicago LLC now owns 37,451 shares of the company’s stock worth $1,994,000 after purchasing an additional 5,195 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Invesco Dorsey Wright Financial Momentum ETF during the 2nd quarter worth about $46,000. Finally, Bank of America Corp DE boosted its stake in Invesco Dorsey Wright Financial Momentum ETF by 0.6% during the 1st quarter. Bank of America Corp DE now owns 53,417 shares of the company’s stock valued at $2,845,000 after purchasing an additional 294 shares during the period.

Invesco Dorsey Wright Financial Momentum ETF Stock Performance

Shares of NASDAQ PFI opened at $58.19 on Wednesday. The business’s 50-day simple moving average is $61.78 and its 200-day simple moving average is $59.45. Invesco Dorsey Wright Financial Momentum ETF has a 52 week low of $51.57 and a 52 week high of $64.46. The firm has a market cap of $58.77 million, a price-to-earnings ratio of 18.63 and a beta of 1.00.

About Invesco Dorsey Wright Financial Momentum ETF

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.