Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Sees Large Decrease in Short Interest

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 2,871 shares, a drop of 45.9% from the July 30th total of 5,304 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 2,773 shares, the short-interest ratio is currently 1.0 days.

Invesco Dorsey Wright Financial Momentum ETF Stock Performance

Shares of Invesco Dorsey Wright Financial Momentum ETF stock traded down $0.37 on Friday, hitting $62.62. 1,378 shares of the company’s stock were exchanged, compared to its average volume of 7,613. Invesco Dorsey Wright Financial Momentum ETF has a 1 year low of $51.57 and a 1 year high of $64.46. The company has a 50-day simple moving average of $62.37 and a 200-day simple moving average of $58.66. The stock has a market capitalization of $59.49 million, a PE ratio of 18.63 and a beta of 1.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its stake in Invesco Dorsey Wright Financial Momentum ETF by 4.6% in the fourth quarter. Cetera Investment Advisers now owns 5,116 shares of the company’s stock valued at $295,000 after buying an additional 225 shares in the last quarter. Bank of America Corp DE lifted its stake in Invesco Dorsey Wright Financial Momentum ETF by 0.6% in the 1st quarter. Bank of America Corp DE now owns 53,417 shares of the company’s stock valued at $2,845,000 after acquiring an additional 294 shares in the last quarter. Royal Bank of Canada lifted its stake in Invesco Dorsey Wright Financial Momentum ETF by 9.4% in the 4th quarter. Royal Bank of Canada now owns 5,854 shares of the company’s stock valued at $338,000 after acquiring an additional 503 shares in the last quarter. Advisory Services Network LLC boosted its position in Invesco Dorsey Wright Financial Momentum ETF by 11.1% during the 4th quarter. Advisory Services Network LLC now owns 7,683 shares of the company’s stock worth $444,000 after acquiring an additional 769 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Invesco Dorsey Wright Financial Momentum ETF by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock worth $102,000 after acquiring an additional 1,200 shares in the last quarter.

About Invesco Dorsey Wright Financial Momentum ETF

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.