Short Interest in Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Drops By 29.2%

Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 3,612 shares, a drop of 29.2% from the December 31st total of 5,105 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 6,756 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 6,756 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are short sold.

Invesco Dorsey Wright Basic Materials Momentum ETF Price Performance

Shares of NASDAQ PYZ opened at $121.01 on Friday. Invesco Dorsey Wright Basic Materials Momentum ETF has a fifty-two week low of $71.72 and a fifty-two week high of $133.75. The firm has a market capitalization of $90.75 million, a P/E ratio of 19.97 and a beta of 1.33. The company’s 50 day simple moving average is $115.43 and its 200 day simple moving average is $107.69.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

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

Hedge Funds Weigh In On Invesco Dorsey Wright Basic Materials Momentum ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYZ. Maltin Wealth Management Inc. lifted its holdings in shares of Invesco Dorsey Wright Basic Materials Momentum ETF by 2.6% during the 4th quarter. Maltin Wealth Management Inc. now owns 5,508 shares of the company’s stock valued at $607,000 after purchasing an additional 141 shares in the last quarter. Trueblood Wealth Management LLC increased its position in Invesco Dorsey Wright Basic Materials Momentum ETF by 3.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 4,299 shares of the company’s stock valued at $474,000 after buying an additional 163 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC purchased a new position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the 4th quarter worth approximately $33,000. Finally, Raymond James Financial Inc. bought a new position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the second quarter valued at approximately $34,000.

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.