Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Short Interest Update

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 7,633 shares, a drop of 73.5% from the August 31st total of 28,773 shares. Based on an average daily volume of 42,981 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Invesco Pharmaceuticals ETF by 234.0% during the first quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock valued at $7,726,000 after buying an additional 52,165 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Invesco Pharmaceuticals ETF by 479.8% in the 1st quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after buying an additional 51,619 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Invesco Pharmaceuticals ETF by 35.9% during the second quarter. Envestnet Asset Management Inc. now owns 36,897 shares of the company’s stock valued at $4,370,000 after buying an additional 9,741 shares in the last quarter. Cetera Investment Advisers raised its position in Invesco Pharmaceuticals ETF by 250.7% in the first quarter. Cetera Investment Advisers now owns 20,462 shares of the company’s stock worth $2,123,000 after acquiring an additional 14,628 shares in the last quarter. Finally, Gilpin Wealth Management LLC bought a new position in shares of Invesco Pharmaceuticals ETF during the 4th quarter valued at about $735,000.

Invesco Pharmaceuticals ETF Stock Up 0.3%

PJP opened at $126.82 on Friday. The company’s 50-day moving average price is $125.49 and its 200 day moving average price is $114.59. Invesco Pharmaceuticals ETF has a fifty-two week low of $90.43 and a fifty-two week high of $131.68. The firm has a market cap of $568.15 million, a price-to-earnings ratio of 15.59 and a beta of 0.45.

About Invesco Pharmaceuticals ETF

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals 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 pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.