Invesco Building & Construction ETF (NYSEARCA:PKB) Sees Large Drop in Short Interest

Invesco Building & Construction ETF (NYSEARCA:PKB) saw a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 1,454 shares, a decline of 69.9% from the October 15th total of 4,823 shares. Based on an average trading volume of 15,549 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Invesco Building & Construction ETF

Several hedge funds and other institutional investors have recently bought and sold shares of PKB. Cetera Investment Advisers lifted its position in shares of Invesco Building & Construction ETF by 105.3% during the 1st quarter. Cetera Investment Advisers now owns 127,427 shares of the company’s stock valued at $12,433,000 after acquiring an additional 65,365 shares during the period. Bank of America Corp DE increased its position in Invesco Building & Construction ETF by 86.9% during the 1st quarter. Bank of America Corp DE now owns 121,030 shares of the company’s stock worth $11,809,000 after purchasing an additional 56,264 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Invesco Building & Construction ETF by 308.4% during the first quarter. Royal Bank of Canada now owns 90,245 shares of the company’s stock worth $8,805,000 after buying an additional 68,150 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Invesco Building & Construction ETF by 14.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 19,773 shares of the company’s stock worth $2,216,000 after purchasing an additional 2,537 shares in the last quarter. Finally, Independent Financial Group LLC bought a new position in Invesco Building & Construction ETF in the 1st quarter valued at approximately $1,713,000.

Invesco Building & Construction ETF Trading Down 1.5%

Shares of NYSEARCA:PKB traded down $1.31 on Friday, hitting $86.50. The company had a trading volume of 26,753 shares, compared to its average volume of 27,767. The stock has a market cap of $247.39 million, a price-to-earnings ratio of 21.11 and a beta of 1.29. Invesco Building & Construction ETF has a 1-year low of $84.39 and a 1-year high of $115.81. The stock has a 50 day moving average price of $90.68 and a 200 day moving average price of $100.40.

About Invesco Building & Construction ETF

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction 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 building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.