Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Significant Increase in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 11,459 shares, a growth of 224.6% from the April 30th total of 3,530 shares. Based on an average daily volume of 9,742 shares, the short-interest ratio is currently 1.2 days. Currently, 0.7% of the company’s shares are sold short.

Invesco Dorsey Wright Utilities Momentum ETF Stock Performance

NASDAQ:PUI traded down $0.40 during trading hours on Friday, hitting $46.42. The stock had a trading volume of 3,332 shares, compared to its average volume of 13,448. The business’s 50 day moving average is $47.33 and its 200-day moving average is $46.10. The company has a market cap of $75.66 million, a price-to-earnings ratio of 20.63 and a beta of 0.67. Invesco Dorsey Wright Utilities Momentum ETF has a one year low of $40.88 and a one year high of $49.30.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were issued a dividend of $0.2594 per share. This is a boost from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, March 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arax Advisory Partners bought a new stake in Invesco Dorsey Wright Utilities Momentum ETF during the 4th quarter worth approximately $65,000. JPMorgan Chase & Co. increased its stake in Invesco Dorsey Wright Utilities Momentum ETF by 4,771.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company’s stock worth $119,000 after purchasing an additional 2,529 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Invesco Dorsey Wright Utilities Momentum ETF by 1,659.7% during the 1st quarter. Sunbelt Securities Inc. now owns 2,622 shares of the company’s stock worth $123,000 after purchasing an additional 2,473 shares in the last quarter. Parallel Advisors LLC increased its stake in Invesco Dorsey Wright Utilities Momentum ETF by 513.7% during the 1st quarter. Parallel Advisors LLC now owns 3,130 shares of the company’s stock worth $147,000 after purchasing an additional 2,620 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Invesco Dorsey Wright Utilities Momentum ETF during the 2nd quarter worth approximately $173,000.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index). The Fund normally invests at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as consumer discretionary, information technology, telecommunication services and utilities.