Invesco Building & Construction ETF (NYSEARCA:PKB) Sees Large Increase in Short Interest

Invesco Building & Construction ETF (NYSEARCA:PKB) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 22,131 shares, a growth of 298.5% from the December 15th total of 5,554 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 13,753 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 13,753 shares, the short-interest ratio is presently 1.6 days. Currently, 0.7% of the shares of the company are sold short.

Invesco Building & Construction ETF Stock Performance

Shares of NYSEARCA:PKB traded down $1.37 during trading on Wednesday, hitting $98.94. 15,266 shares of the stock were exchanged, compared to its average volume of 22,396. The company has a market capitalization of $308.69 million, a price-to-earnings ratio of 21.37 and a beta of 1.30. Invesco Building & Construction ETF has a 1-year low of $59.89 and a 1-year high of $100.41. The company’s fifty day simple moving average is $94.83 and its 200-day simple moving average is $92.07.

Hedge Funds Weigh In On Invesco Building & Construction ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG lifted its holdings in shares of Invesco Building & Construction ETF by 240.4% during the third quarter. UBS Group AG now owns 66,043 shares of the company’s stock valued at $6,314,000 after acquiring an additional 46,643 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco Building & Construction ETF by 22.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 64,467 shares of the company’s stock worth $6,163,000 after purchasing an additional 11,925 shares during the last quarter. Bank of America Corp DE grew its holdings in Invesco Building & Construction ETF by 6.6% during the 3rd quarter. Bank of America Corp DE now owns 56,514 shares of the company’s stock worth $5,403,000 after acquiring an additional 3,494 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Invesco Building & Construction ETF by 14.8% in the second quarter. Avantax Advisory Services Inc. now owns 50,795 shares of the company’s stock worth $4,081,000 after acquiring an additional 6,541 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Invesco Building & Construction ETF by 1,539.1% during the first quarter. Goldman Sachs Group Inc. now owns 47,207 shares of the company’s stock valued at $3,178,000 after purchasing an additional 44,327 shares during the last quarter.

About Invesco Building & Construction ETF

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.