Short Interest in Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP) Drops By 88.8%

Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 897,735 shares, a decline of 88.8% from the May 31st total of 7,987,117 shares. Based on an average daily volume of 2,173,467 shares, the days-to-cover ratio is presently 0.4 days. Approximately 7.1% of the shares of the company are short sold.

Invesco DB US Dollar Index Bullish Fund Price Performance

UUP traded down $0.04 during trading on Friday, reaching $28.45. 716,777 shares of the company were exchanged, compared to its average volume of 2,241,108. Invesco DB US Dollar Index Bullish Fund has a 52 week low of $26.40 and a 52 week high of $28.56. The firm has a 50 day moving average of $27.75 and a 200 day moving average of $27.49.

Hedge Funds Weigh In On Invesco DB US Dollar Index Bullish Fund

Several institutional investors have recently modified their holdings of UUP. Royal Bank of Canada boosted its position in shares of Invesco DB US Dollar Index Bullish Fund by 34.6% during the first quarter. Royal Bank of Canada now owns 68,856 shares of the exchange traded fund’s stock worth $1,965,000 after buying an additional 17,692 shares during the period. Goldman Sachs Group Inc. increased its position in Invesco DB US Dollar Index Bullish Fund by 104.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,782 shares of the exchange traded fund’s stock valued at $450,000 after acquiring an additional 368,650 shares during the period. Empowered Funds LLC bought a new stake in Invesco DB US Dollar Index Bullish Fund during the 1st quarter valued at $1,864,000. Baird Financial Group Inc. bought a new stake in Invesco DB US Dollar Index Bullish Fund during the 2nd quarter valued at $3,246,000. Finally, Natixis acquired a new position in Invesco DB US Dollar Index Bullish Fund during the 2nd quarter worth $989,000.

About Invesco DB US Dollar Index Bullish Fund

PowerShares DB US Dollar Index Bullish Fund (the Fund) is a separate series of PowerShares DB US Dollar Index Trust (the Trust). The Fund establishes long positions in certain futures contracts (the DX Contracts) with a view to tracking the changcBank Long US Dollar Index (USDX) Futures Index Excess Return (the Index), over time. The Fund seeks to track the Index by establishing long positions in DX Contracts accordingly. The Fund offers common units of beneficial interest (the Shares) only to certain eligible financial institutions (the Authorized Participants) in one or more blocks of 200,000 Shares, called a Basket.