Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) Sees Significant Growth in Short Interest

Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 387,522 shares, an increase of 76.6% from the February 26th total of 219,406 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 189,889 shares, the days-to-cover ratio is currently 2.0 days.

Invesco Taxable Municipal Bond ETF Stock Down 0.3%

Shares of BAB stock traded down $0.09 on Friday, reaching $26.64. The company’s stock had a trading volume of 14,570 shares, compared to its average volume of 168,303. The company has a market capitalization of $1.03 billion, a P/E ratio of -202.23 and a beta of 0.32. Invesco Taxable Municipal Bond ETF has a 12-month low of $25.59 and a 12-month high of $27.73. The stock’s 50 day simple moving average is $27.25 and its 200-day simple moving average is $27.30.

Invesco Taxable Municipal Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were paid a $0.0886 dividend. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, February 23rd.

Institutional Investors Weigh In On Invesco Taxable Municipal Bond ETF

Hedge funds have recently bought and sold shares of the stock. Chapman Financial Group LLC raised its position in shares of Invesco Taxable Municipal Bond ETF by 1,212.5% during the 3rd quarter. Chapman Financial Group LLC now owns 21,000 shares of the company’s stock valued at $573,000 after buying an additional 19,400 shares in the last quarter. Millington Financial Advisors LLC grew its position in Invesco Taxable Municipal Bond ETF by 17.3% in the second quarter. Millington Financial Advisors LLC now owns 15,413 shares of the company’s stock worth $406,000 after acquiring an additional 2,272 shares in the last quarter. Guggenheim Capital LLC increased its stake in Invesco Taxable Municipal Bond ETF by 11.0% in the second quarter. Guggenheim Capital LLC now owns 246,847 shares of the company’s stock valued at $6,549,000 after acquiring an additional 24,409 shares during the last quarter. HighTower Advisors LLC increased its stake in Invesco Taxable Municipal Bond ETF by 9.2% in the third quarter. HighTower Advisors LLC now owns 1,441,238 shares of the company’s stock valued at $39,331,000 after acquiring an additional 121,880 shares during the last quarter. Finally, Keybank National Association OH raised its position in Invesco Taxable Municipal Bond ETF by 19.1% during the third quarter. Keybank National Association OH now owns 215,063 shares of the company’s stock valued at $5,869,000 after purchasing an additional 34,433 shares in the last quarter.

About Invesco Taxable Municipal Bond ETF

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index. The Index is designed to track the performance of the United States dollar-denominated Build America Bonds publicly issued by the United States and territories, and their political subdivisions, in the United States market.