Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Decrease in Short Interest

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 3,765 shares, a decline of 62.1% from the September 30th total of 9,931 shares. Based on an average daily volume of 37,922 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Invesco Pharmaceuticals ETF Stock Up 0.2%

NYSEARCA:PJP opened at $126.67 on Thursday. Invesco Pharmaceuticals ETF has a 52 week low of $94.95 and a 52 week high of $131.68. The company has a market cap of $562.41 million, a PE ratio of 15.59 and a beta of 0.44. The business’s 50 day moving average is $125.82 and its two-hundred day moving average is $114.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Invesco Pharmaceuticals ETF by 234.0% in the first quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock worth $7,726,000 after purchasing an additional 52,165 shares during the period. Royal Bank of Canada boosted its holdings in shares of Invesco Pharmaceuticals ETF by 479.8% in the first 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 during the period. Envestnet Asset Management Inc. grew its position in Invesco Pharmaceuticals ETF by 35.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 36,897 shares of the company’s stock worth $4,370,000 after purchasing an additional 9,741 shares in the last quarter. Cetera Investment Advisers lifted its stake in Invesco Pharmaceuticals ETF by 250.7% in the 1st 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, Outlook Wealth Advisors LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the third quarter worth approximately $1,392,000.

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.