Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) Stock Short Interest Falls 74.8%

Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) saw a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 16,340 shares, a drop of 74.8% from the October 15th total of 64,823 shares. Based on an average trading volume of 13,517 shares, the short-interest ratio is currently 1.2 days. Approximately 1.1% of the shares of the stock are sold short.

Invesco Floating Rate Municipal Income ETF Stock Performance

NYSEARCA PVI traded down $0.01 during mid-day trading on Friday, hitting $24.82. The stock had a trading volume of 4,894 shares, compared to its average volume of 8,146. Invesco Floating Rate Municipal Income ETF has a 52-week low of $24.65 and a 52-week high of $25.10. The company has a 50 day simple moving average of $24.86 and a 200 day simple moving average of $24.83.

Institutional Trading of Invesco Floating Rate Municipal Income ETF

A number of institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC raised its stake in shares of Invesco Floating Rate Municipal Income ETF by 3.2% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 40,747 shares of the company’s stock worth $1,017,000 after buying an additional 1,274 shares during the last quarter. Pine Harbor Wealth Management LLC acquired a new stake in Invesco Floating Rate Municipal Income ETF in the 3rd quarter valued at about $738,000. Cetera Investment Advisers grew its stake in Invesco Floating Rate Municipal Income ETF by 1.7% in the 1st quarter. Cetera Investment Advisers now owns 28,221 shares of the company’s stock valued at $702,000 after acquiring an additional 471 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Invesco Floating Rate Municipal Income ETF in the 3rd quarter valued at about $551,000. Finally, Arkadios Wealth Advisors acquired a new stake in Invesco Floating Rate Municipal Income ETF in the 1st quarter valued at about $426,000.

About Invesco Floating Rate Municipal Income ETF

The Invesco VRDO Tax-Free ETF (PVI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of VRDOs issued by US municipalities. PVI was launched on Nov 15, 2007 and is managed by Invesco.