Short Interest in Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Drops By 45.9%

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 2,871 shares, a decline of 45.9% from the July 30th total of 5,304 shares. Based on an average daily trading volume, of 2,773 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Invesco Dorsey Wright Financial Momentum ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. AlphaCore Capital LLC purchased a new position in Invesco Dorsey Wright Financial Momentum ETF during the 4th quarter valued at about $1,030,000. IMC Chicago LLC raised its position in Invesco Dorsey Wright Financial Momentum ETF by 26.6% during the 4th quarter. IMC Chicago LLC now owns 32,256 shares of the company’s stock valued at $1,862,000 after purchasing an additional 6,773 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Invesco Dorsey Wright Financial Momentum ETF by 11.1% in the 4th quarter. Advisory Services Network LLC now owns 7,683 shares of the company’s stock worth $444,000 after buying an additional 769 shares during the period. Royal Bank of Canada lifted its holdings in Invesco Dorsey Wright Financial Momentum ETF by 9.4% in the 4th quarter. Royal Bank of Canada now owns 5,854 shares of the company’s stock worth $338,000 after buying an additional 503 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in shares of Invesco Dorsey Wright Financial Momentum ETF in the 3rd quarter worth approximately $502,000.

Invesco Dorsey Wright Financial Momentum ETF Price Performance

PFI traded down $0.50 during trading on Monday, hitting $62.12. 34,155 shares of the stock traded hands, compared to its average volume of 7,767. The firm has a market capitalization of $59.01 million, a P/E ratio of 18.63 and a beta of 1.01. The firm has a 50-day moving average of $62.37 and a 200 day moving average of $58.66. Invesco Dorsey Wright Financial Momentum ETF has a 12-month low of $51.57 and a 12-month high of $64.46.

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.