Short Interest in Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) Declines By 86.4%

Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,635 shares, a drop of 86.4% from the February 26th total of 12,031 shares. Based on an average daily trading volume, of 1,775 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.1% of the company’s shares are short sold. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,775 shares, the days-to-cover ratio is currently 0.9 days.

Invesco S&P SmallCap Materials ETF Stock Up 3.8%

Shares of PSCM traded up $3.50 during mid-day trading on Tuesday, hitting $94.88. 5,971 shares of the company’s stock traded hands, compared to its average volume of 3,673. The firm has a market capitalization of $14.23 million, a P/E ratio of 17.06 and a beta of 1.15. The business’s 50-day moving average price is $96.34 and its 200-day moving average price is $85.58. Invesco S&P SmallCap Materials ETF has a 1 year low of $55.33 and a 1 year high of $106.13.

Invesco S&P SmallCap Materials ETF Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 23rd will be issued a $0.226 dividend. The ex-dividend date is Monday, March 23rd. This represents a $0.90 annualized dividend and a yield of 1.0%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC boosted its stake in Invesco S&P SmallCap Materials ETF by 13.6% during the third quarter. Virtu Financial LLC now owns 16,393 shares of the company’s stock worth $1,272,000 after acquiring an additional 1,963 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Invesco S&P SmallCap Materials ETF during the third quarter valued at approximately $243,000. Jane Street Group LLC purchased a new position in shares of Invesco S&P SmallCap Materials ETF during the fourth quarter valued at approximately $226,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Invesco S&P SmallCap Materials ETF during the second quarter valued at approximately $53,000.

About Invesco S&P SmallCap Materials ETF

PowerShares S&P SmallCap Materials Portfolio (the Fund) is based on the S&P SmallCap 600 Capped Materials Index (Index). The Index is designed to measure the overall performance of common stocks of United States basic materials companies. These companies are principally engaged in the business of producing raw materials, including paper or wood products, chemicals, construction materials, and mining and metals. The Index is a subset of the S&P SmallCap 600 Index, which is a float-adjusted, market capitalization-weighted index reflecting the United States small-cap market.