Short Interest in Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) Drops By 27.8%

Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,181 shares, a drop of 27.8% from the March 15th total of 1,635 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,923 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Invesco S&P SmallCap Materials ETF

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Invesco S&P SmallCap Materials ETF in the 2nd quarter valued at approximately $53,000. Jane Street Group LLC acquired a new position in Invesco S&P SmallCap Materials ETF during the fourth quarter worth $226,000. Citadel Advisors LLC acquired a new position in Invesco S&P SmallCap Materials ETF during the third quarter worth $243,000. Finally, Virtu Financial LLC raised its holdings in Invesco S&P SmallCap Materials ETF by 13.6% during the third quarter. Virtu Financial LLC now owns 16,393 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,963 shares during the last quarter.

Invesco S&P SmallCap Materials ETF Price Performance

PSCM opened at $102.30 on Friday. The business has a 50 day simple moving average of $98.20 and a 200-day simple moving average of $88.13. The stock has a market capitalization of $20.46 million, a P/E ratio of 17.06 and a beta of 1.04. Invesco S&P SmallCap Materials ETF has a 12 month low of $59.18 and a 12 month high of $106.13.

Invesco S&P SmallCap Materials ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, March 23rd.

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.