Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Significant Drop in Short Interest

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 30,384 shares, a decrease of 39.2% from the July 30th total of 49,986 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 35,912 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Invesco Pharmaceuticals ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Invesco Pharmaceuticals ETF by 234.0% during the first quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock valued at $7,726,000 after purchasing an additional 52,165 shares during the period. Royal Bank of Canada grew its holdings in shares of Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after purchasing an additional 51,619 shares during the last quarter. LPL Financial LLC increased its stake in Invesco Pharmaceuticals ETF by 5.6% in the 4th quarter. LPL Financial LLC now owns 59,366 shares of the company’s stock worth $6,206,000 after buying an additional 3,156 shares during the period. Wells Fargo & Company MN increased its stake in Invesco Pharmaceuticals ETF by 96.8% in the 4th quarter. Wells Fargo & Company MN now owns 37,772 shares of the company’s stock worth $3,949,000 after buying an additional 18,576 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco Pharmaceuticals ETF by 829.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock valued at $2,712,000 after buying an additional 23,150 shares in the last quarter.

Invesco Pharmaceuticals ETF Trading Up 0.4%

Shares of NYSEARCA PJP traded up $0.53 during midday trading on Tuesday, hitting $128.02. The company’s stock had a trading volume of 79,011 shares, compared to its average volume of 35,581. The business’s 50 day moving average is $122.43 and its two-hundred day moving average is $112.21. Invesco Pharmaceuticals ETF has a 12-month low of $90.01 and a 12-month high of $131.68. The firm has a market cap of $491.60 million, a P/E ratio of 15.59 and a beta of 0.45.

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.