Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) Sees Large Growth in Short Interest

Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 1,012,256 shares, an increase of 386.5% from the May 14th total of 208,082 shares. Currently, 5.3% of the company’s shares are sold short. Based on an average daily volume of 2,136,032 shares, the days-to-cover ratio is currently 0.5 days.

Invesco PHLX Semiconductor ETF Stock Performance

SOXQ traded up $1.59 on Friday, reaching $105.29. 2,724,301 shares of the company’s stock were exchanged, compared to its average volume of 1,579,782. The company’s 50 day moving average is $86.01 and its 200-day moving average is $69.27. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 34.20 and a beta of 1.78. Invesco PHLX Semiconductor ETF has a twelve month low of $40.21 and a twelve month high of $110.54.

Invesco PHLX Semiconductor ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a dividend of $0.0706 per share. This is a boost from Invesco PHLX Semiconductor ETF’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%.

Institutional Trading of Invesco PHLX Semiconductor ETF

A number of institutional investors and hedge funds have recently bought and sold shares of SOXQ. Global Assets Advisory LLC acquired a new stake in Invesco PHLX Semiconductor ETF in the first quarter valued at approximately $39,000. Qube Research & Technologies Ltd acquired a new stake in shares of Invesco PHLX Semiconductor ETF during the third quarter worth approximately $35,000. Western Wealth Management LLC acquired a new stake in shares of Invesco PHLX Semiconductor ETF during the first quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco PHLX Semiconductor ETF by 112.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 954 shares of the company’s stock worth $42,000 after buying an additional 505 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Invesco PHLX Semiconductor ETF by 118.7% during the fourth quarter. Royal Bank of Canada now owns 1,286 shares of the company’s stock worth $72,000 after buying an additional 698 shares in the last quarter.

About Invesco PHLX Semiconductor ETF

The Invesco PHLX Semiconductor ETF (SOXQ) is an exchange-traded fund that is based on the PHLX / Semiconductor index, a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXQ was launched on Jun 11, 2021 and is managed by Invesco.