Invesco Dorsey Wright Healthcare Momentum ETF (NASDAQ:PTH) Sees Large Decline in Short Interest

Invesco Dorsey Wright Healthcare Momentum ETF (NASDAQ:PTH) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 14,534 shares, a drop of 73.4% from the August 15th total of 54,678 shares. Based on an average daily volume of 25,280 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the shares of the company are short sold.

Invesco Dorsey Wright Healthcare Momentum ETF Stock Up 0.3%

NASDAQ:PTH traded up $0.19 during midday trading on Friday, reaching $60.77. The stock had a trading volume of 17,094 shares, compared to its average volume of 28,040. The stock has a market cap of $240.65 million, a P/E ratio of 35.21 and a beta of 0.81. The firm has a fifty day simple moving average of $60.41 and a two-hundred day simple moving average of $54.36. Invesco Dorsey Wright Healthcare Momentum ETF has a 12-month low of $39.36 and a 12-month high of $64.10.

Institutional Trading of Invesco Dorsey Wright Healthcare Momentum ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in Invesco Dorsey Wright Healthcare Momentum ETF during the fourth quarter worth about $39,000. Godfrey Financial Associates Inc. acquired a new position in Invesco Dorsey Wright Healthcare Momentum ETF during the 4th quarter worth approximately $45,000. Fifth Third Bancorp acquired a new position in Invesco Dorsey Wright Healthcare Momentum ETF during the 1st quarter worth approximately $70,000. Sankala Group LLC purchased a new position in shares of Invesco Dorsey Wright Healthcare Momentum ETF during the 4th quarter worth approximately $77,000. Finally, Western Wealth Management LLC purchased a new position in shares of Invesco Dorsey Wright Healthcare Momentum ETF during the 1st quarter worth approximately $84,000.

Invesco Dorsey Wright Healthcare Momentum ETF Company Profile

PowerShares Dynamic Healthcare Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Healthcare Sector Intellidex Index (the Index). The Fund will normally 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.The Fund invests only in health care sector.