Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Short Interest Down 66.9% in August

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 949 shares, a decrease of 66.9% from the August 15th total of 2,871 shares. Based on an average trading volume of 5,477 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Invesco Dorsey Wright Financial Momentum ETF Stock Performance

PFI stock traded up $0.07 during trading on Friday, reaching $61.74. The company had a trading volume of 1,975 shares, compared to its average volume of 7,883. The firm has a 50-day simple moving average of $62.54 and a 200-day simple moving average of $59.03. The company has a market cap of $58.65 million, a price-to-earnings ratio of 18.63 and a beta of 1.00. Invesco Dorsey Wright Financial Momentum ETF has a twelve month low of $51.57 and a twelve month high of $64.46.

Institutional Investors Weigh In On Invesco Dorsey Wright Financial Momentum ETF

Several institutional investors and hedge funds have recently made changes to their positions in PFI. Cetera Investment Advisers lifted its position in Invesco Dorsey Wright Financial Momentum ETF by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 5,116 shares of the company’s stock valued at $295,000 after purchasing an additional 225 shares during the period. Bank of America Corp DE raised its stake in shares of Invesco Dorsey Wright Financial Momentum ETF by 0.6% during the 1st quarter. Bank of America Corp DE now owns 53,417 shares of the company’s stock valued at $2,845,000 after buying an additional 294 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Invesco Dorsey Wright Financial Momentum ETF by 9.4% during the 4th quarter. Royal Bank of Canada now owns 5,854 shares of the company’s stock valued at $338,000 after buying an additional 503 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Invesco Dorsey Wright Financial Momentum ETF in the 2nd quarter valued at about $46,000. Finally, Advisory Services Network LLC lifted its holdings in shares of 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 valued at $444,000 after buying an additional 769 shares during the period.

Invesco Dorsey Wright Financial Momentum ETF Company Profile

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.