Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Short Interest Drops 82.9%

Invesco Food & Beverage ETF (NYSEARCA:PBJ) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 6,331 shares, a decline of 82.9% from the September 15th total of 37,068 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 10,024 shares, the days-to-cover ratio is presently 0.6 days.

Invesco Food & Beverage ETF Price Performance

PBJ stock traded down $0.20 during mid-day trading on Friday, reaching $45.82. The company had a trading volume of 53,133 shares, compared to its average volume of 22,657. The company has a market capitalization of $104.93 million, a price-to-earnings ratio of 19.85 and a beta of 0.49. The stock has a 50 day simple moving average of $47.04 and a two-hundred day simple moving average of $47.98. Invesco Food & Beverage ETF has a 52 week low of $42.69 and a 52 week high of $51.07.

Institutional Investors Weigh In On Invesco Food & Beverage ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in Invesco Food & Beverage ETF by 139.1% in the 1st quarter. Parallel Advisors LLC now owns 985 shares of the company’s stock valued at $48,000 after purchasing an additional 573 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Invesco Food & Beverage ETF during the first quarter worth about $202,000. Compass Financial Management LLC acquired a new position in shares of Invesco Food & Beverage ETF in the 2nd quarter valued at approximately $224,000. Kestra Advisory Services LLC lifted its holdings in shares of Invesco Food & Beverage ETF by 720.5% during the 1st quarter. Kestra Advisory Services LLC now owns 15,154 shares of the company’s stock worth $742,000 after acquiring an additional 13,307 shares during the period. Finally, Howe & Rusling Inc. boosted its holdings in shares of Invesco Food & Beverage ETF by 1.5% in the 1st quarter. Howe & Rusling Inc. now owns 42,967 shares of the company’s stock valued at $2,104,000 after purchasing an additional 640 shares in the last quarter.

Invesco Food & Beverage ETF Company Profile

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. 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.