Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Significant Drop in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 5,704 shares, a drop of 50.2% from the May 14th total of 11,459 shares. Based on an average trading volume of 7,413 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.3% of the shares of the company are sold short.

Invesco Dorsey Wright Utilities Momentum ETF Stock Performance

Shares of PUI stock opened at $46.44 on Friday. The stock has a market cap of $75.70 million, a price-to-earnings ratio of 20.63 and a beta of 0.64. Invesco Dorsey Wright Utilities Momentum ETF has a 52-week low of $40.88 and a 52-week high of $49.30. The firm has a fifty day moving average of $47.18 and a 200-day moving average of $46.14.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.2594 dividend. This is a boost from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.04 annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. RPS Advisory Solutions LLC acquired a new position in Invesco Dorsey Wright Utilities Momentum ETF in the fourth quarter valued at about $506,000. Private Advisor Group LLC raised its holdings in Invesco Dorsey Wright Utilities Momentum ETF by 12.2% during the 3rd quarter. Private Advisor Group LLC now owns 6,169 shares of the company’s stock worth $283,000 after buying an additional 673 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Invesco Dorsey Wright Utilities Momentum ETF during the second quarter worth $173,000. Arax Advisory Partners acquired a new stake in shares of Invesco Dorsey Wright Utilities Momentum ETF in the 4th quarter valued at about $65,000. Finally, Western Wealth Management LLC bought a new stake in Invesco Dorsey Wright Utilities Momentum ETF in the 1st quarter valued at approximately $344,000.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index). The Fund normally invests at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as consumer discretionary, information technology, telecommunication services and utilities.