Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) Stock Short Interest Declines 59.6%

Invesco S&P SmallCap Materials ETF (NASDAQ:PSCM) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 577 shares, a decrease of 59.6% from the August 31st total of 1,428 shares. Based on an average daily trading volume, of 742 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the shares of the company are sold short.

Invesco S&P SmallCap Materials ETF Trading Down 0.6%

Shares of PSCM traded down $0.59 during mid-day trading on Monday, hitting $95.58. 315 shares of the company’s stock were exchanged, compared to its average volume of 2,557. Invesco S&P SmallCap Materials ETF has a fifty-two week low of $72.75 and a fifty-two week high of $110.02. The business’s 50 day moving average is $98.68 and its two-hundred day moving average is $100.51. The firm has a market capitalization of $20.07 million, a P/E ratio of 17.06 and a beta of 1.03.

Invesco S&P SmallCap Materials ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were paid a dividend of $0.2517 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $1.01 annualized dividend and a yield of 1.1%. This is a drop from Invesco S&P SmallCap Materials ETF’s previous quarterly dividend of $0.2677.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Invesco S&P SmallCap Materials ETF in the first quarter valued at approximately $538,000. Private Advisor Group LLC acquired a new stake in shares of Invesco S&P SmallCap Materials ETF during the first quarter worth $282,000. Pacific Sun Financial Corp purchased a new position in Invesco S&P SmallCap Materials ETF in the 1st quarter valued at $214,000. Finally, Essex Financial Services Inc. purchased a new position in Invesco S&P SmallCap Materials ETF in the 1st quarter valued at $205,000.

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.