Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Large Decrease in Short Interest

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 3,765 shares, a drop of 62.1% from the September 30th total of 9,931 shares. Based on an average daily volume of 37,922 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Invesco Pharmaceuticals ETF Stock Up 0.2%

Shares of NYSEARCA:PJP opened at $126.67 on Thursday. The firm’s 50-day simple moving average is $125.82 and its 200-day simple moving average is $114.22. Invesco Pharmaceuticals ETF has a fifty-two week low of $94.95 and a fifty-two week high of $131.68. The company has a market cap of $562.41 million, a price-to-earnings ratio of 15.59 and a beta of 0.44.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC purchased a new stake in shares of Invesco Pharmaceuticals ETF in the third quarter valued at $25,000. Latitude Advisors LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the 3rd quarter worth $29,000. Fifth Third Bancorp purchased a new position in shares of Invesco Pharmaceuticals ETF in the 1st quarter worth about $36,000. Global Assets Advisory LLC acquired a new position in Invesco Pharmaceuticals ETF during the first quarter valued at approximately $42,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Invesco Pharmaceuticals ETF during the 2nd quarter worth $55,000.

Invesco Pharmaceuticals ETF Company Profile

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.