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

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 52,162 shares, an increase of 326.1% from the June 30th total of 12,241 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 76,346 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Invesco Pharmaceuticals ETF

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its position in Invesco Pharmaceuticals ETF by 234.0% in the 1st quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock worth $7,726,000 after purchasing an additional 52,165 shares during the period. Royal Bank of Canada increased its holdings in shares of Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock worth $6,472,000 after buying an additional 51,619 shares during the period. LPL Financial LLC increased its stake in shares of Invesco Pharmaceuticals ETF by 5.6% in the fourth quarter. LPL Financial LLC now owns 59,366 shares of the company’s stock worth $6,206,000 after buying an additional 3,156 shares during the period. Wells Fargo & Company MN raised its holdings in Invesco Pharmaceuticals ETF by 96.8% during the 4th quarter. Wells Fargo & Company MN now owns 37,772 shares of the company’s stock valued at $3,949,000 after buying an additional 18,576 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Invesco Pharmaceuticals ETF by 829.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock valued at $2,712,000 after buying an additional 23,150 shares during the period.

Invesco Pharmaceuticals ETF Price Performance

NYSEARCA:PJP opened at $120.37 on Friday. The company has a market capitalization of $438.15 million, a price-to-earnings ratio of 15.59 and a beta of 0.45. The business has a 50 day moving average of $114.20 and a 200 day moving average of $108.55. Invesco Pharmaceuticals ETF has a 1-year low of $80.63 and a 1-year high of $122.69.

About Invesco Pharmaceuticals ETF

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.