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

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a large growth in short interest in October. As of October 30th, there was short interest totaling 27,947 shares, a growth of 642.3% from the October 15th total of 3,765 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 29,623 shares, the short-interest ratio is presently 0.9 days.

Invesco Pharmaceuticals ETF Trading Up 0.7%

NYSEARCA:PJP opened at $130.54 on Wednesday. The firm has a fifty day simple moving average of $125.78 and a two-hundred day simple moving average of $115.30. The stock has a market capitalization of $593.96 million, a price-to-earnings ratio of 28.57 and a beta of 0.43. Invesco Pharmaceuticals ETF has a 12 month low of $98.55 and a 12 month high of $132.59.

Institutional Investors Weigh In On Invesco Pharmaceuticals ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF in the 3rd quarter worth about $649,000. Focus Advisor Solutions LLC boosted its stake in Invesco Pharmaceuticals ETF by 4.2% during the 3rd quarter. Focus Advisor Solutions LLC now owns 2,152 shares of the company’s stock valued at $265,000 after purchasing an additional 87 shares during the last quarter. HighTower Advisors LLC bought a new stake in Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $31,705,000. Harbour Investments Inc. bought a new stake in Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $62,000. Finally, Financial Freedom LLC bought a new stake in Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $48,000.

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.