Short Interest in Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Drops By 24.2%

Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 6,416 shares, a drop of 24.2% from the February 26th total of 8,469 shares. Based on an average trading volume of 5,598 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.9% of the shares of the stock are sold short.

Invesco Dorsey Wright Basic Materials Momentum ETF Stock Up 4.8%

Shares of PYZ stock traded up $5.44 during trading on Tuesday, hitting $119.83. The company had a trading volume of 8,401 shares, compared to its average volume of 5,233. The stock’s 50-day moving average is $124.65 and its two-hundred day moving average is $114.43. The stock has a market capitalization of $89.87 million, a price-to-earnings ratio of 19.97 and a beta of 1.33. Invesco Dorsey Wright Basic Materials Momentum ETF has a 52 week low of $71.72 and a 52 week high of $133.75.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were paid a $0.1193 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Trading of Invesco Dorsey Wright Basic Materials Momentum ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new position in Invesco Dorsey Wright Basic Materials Momentum ETF in the fourth quarter worth $31,000. Sound Income Strategies LLC purchased a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter valued at about $33,000. Raymond James Financial Inc. purchased a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF during the second quarter valued at about $34,000. Kestra Advisory Services LLC bought a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth about $74,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth about $79,000.

About Invesco Dorsey Wright Basic Materials Momentum ETF

The Invesco DWA Basic Materials Momentum ETF (PYZ) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an index of US basic materials firms selected and weighted by price momentum. PYZ was launched on Oct 12, 2006 and is managed by Invesco.