Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Stock Short Interest Drops 39.5%

Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 7,784 shares, a drop of 39.5% from the September 30th total of 12,856 shares. Based on an average daily trading volume, of 11,229 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are short sold.

Invesco Biotechnology & Genome ETF Stock Performance

Shares of NYSEARCA:PBE traded up $1.68 during mid-day trading on Tuesday, hitting $102.81. 7,133 shares of the company traded hands, compared to its average volume of 14,011. The firm has a market cap of $447.20 million, a P/E ratio of 20.44 and a beta of 0.70. Invesco Biotechnology & Genome ETF has a 52-week low of $73.16 and a 52-week high of $104.24. The firm’s 50 day simple moving average is $97.06 and its 200 day simple moving average is $87.36.

Institutional Investors Weigh In On Invesco Biotechnology & Genome ETF

Several hedge funds and other institutional investors have recently modified their holdings of PBE. Compass Financial Management LLC acquired a new position in shares of Invesco Biotechnology & Genome ETF during the second quarter valued at approximately $27,000. Fifth Third Bancorp acquired a new stake in Invesco Biotechnology & Genome ETF in the first quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new stake in Invesco Biotechnology & Genome ETF in the third quarter worth approximately $59,000. Integrated Wealth Concepts LLC acquired a new stake in Invesco Biotechnology & Genome ETF in the second quarter worth approximately $84,000. Finally, Allen Mooney & Barnes Investment Advisors LLC bought a new position in Invesco Biotechnology & Genome ETF during the 3rd quarter valued at $204,000.

About Invesco Biotechnology & Genome ETF

PowerShares Dynamic Biotechnology & Genome Portfolio (the Fund) is based on the Dynamic Biotechnology & Genome Intellidex Index (the Index). The Fund seeks investment results that correspond generally to the price and yield of the Index. The Index consists of stocks of 30 the United States biotechnology and genome companies. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.