Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) Sees Significant Growth in Short Interest

Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 1,428 shares, an increase of 74.8% from the August 15th total of 817 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average trading volume of 842 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Invesco S&P SmallCap Materials ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacific Sun Financial Corp acquired a new position in shares of Invesco S&P SmallCap Materials ETF during the 1st quarter worth about $214,000. Parr Mcknight Wealth Management Group LLC bought a new position in Invesco S&P SmallCap Materials ETF in the 1st quarter worth approximately $538,000. Private Advisor Group LLC bought a new position in Invesco S&P SmallCap Materials ETF in the 1st quarter worth approximately $282,000. Finally, Essex Financial Services Inc. acquired a new position in shares of Invesco S&P SmallCap Materials ETF during the first quarter worth approximately $205,000.

Invesco S&P SmallCap Materials ETF Stock Performance

Shares of NASDAQ PSCM traded up $0.49 during mid-day trading on Thursday, reaching $95.22. 958 shares of the company traded hands, compared to its average volume of 2,651. The company’s fifty day moving average is $98.97 and its two-hundred day moving average is $100.55. Invesco S&P SmallCap Materials ETF has a fifty-two week low of $72.75 and a fifty-two week high of $110.02. The stock has a market cap of $1.90 million, a PE ratio of 17.06 and a beta of 1.03.

About Invesco S&P SmallCap Materials ETF

PowerShares S&P SmallCap Materials Portfolio (the Fund) is based on the S&P SmallCap 600 Capped Materials Index (Index). The Index is designed to measure the overall performance of common stocks of United States basic materials companies. These companies are principally engaged in the business of producing raw materials, including paper or wood products, chemicals, construction materials, and mining and metals. The Index is a subset of the S&P SmallCap 600 Index, which is a float-adjusted, market capitalization-weighted index reflecting the United States small-cap market.