Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Sees Significant Drop in Short Interest

Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 8,469 shares, a decline of 27.8% from the February 12th total of 11,724 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 4,715 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 4,715 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.1% of the company’s shares are sold short.

Invesco Dorsey Wright Basic Materials Momentum ETF Stock Down 2.6%

Shares of Invesco Dorsey Wright Basic Materials Momentum ETF stock traded down $3.11 during mid-day trading on Friday, hitting $117.28. The stock had a trading volume of 1,967 shares, compared to its average volume of 5,726. The firm has a 50-day moving average of $126.07 and a two-hundred day moving average of $113.53. The firm has a market cap of $87.96 million, a P/E ratio of 19.97 and a beta of 1.33. Invesco Dorsey Wright Basic Materials Momentum ETF has a 12-month low of $71.72 and a 12-month high of $133.75.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were given a $0.1551 dividend. This represents a $0.62 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 22nd.

Institutional Investors Weigh In On Invesco Dorsey Wright Basic Materials Momentum ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new position in Invesco Dorsey Wright Basic Materials Momentum ETF in the fourth quarter valued at about $31,000. Sound Income Strategies LLC purchased a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the 4th quarter valued at approximately $33,000. Raymond James Financial Inc. acquired a new position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the 2nd quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the 4th quarter worth approximately $74,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the 4th quarter worth approximately $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.