Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) Stock Short Interest Jumps 109.0%

Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 2,811 shares, an increase of 109.0% from the August 31st total of 1,345 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 9,400 shares, the short-interest ratio is presently 0.3 days.

Invesco Dorsey Wright Energy Momentum ETF Stock Performance

PXI stock traded down $0.57 during midday trading on Tuesday, hitting $60.95. 2,334 shares of the stock were exchanged, compared to its average volume of 16,392. The stock’s 50-day moving average price is $62.26 and its 200-day moving average price is $59.43. The stock has a market cap of $54.85 million, a price-to-earnings ratio of 17.22 and a beta of 0.64. Invesco Dorsey Wright Energy Momentum ETF has a fifty-two week low of $44.56 and a fifty-two week high of $66.62.

Institutional Trading of Invesco Dorsey Wright Energy Momentum ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,909.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 110,613 shares of the company’s stock worth $6,587,000 after purchasing an additional 105,108 shares during the last quarter. Bank of America Corp DE increased its position in Invesco Dorsey Wright Energy Momentum ETF by 31.1% during the first quarter. Bank of America Corp DE now owns 46,068 shares of the company’s stock worth $2,743,000 after buying an additional 10,930 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Invesco Dorsey Wright Energy Momentum ETF by 90.5% during the second quarter. Envestnet Asset Management Inc. now owns 7,680 shares of the company’s stock worth $423,000 after buying an additional 3,648 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,797.9% in the first quarter. Royal Bank of Canada now owns 7,079 shares of the company’s stock worth $422,000 after acquiring an additional 6,706 shares during the last quarter. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Invesco Dorsey Wright Energy Momentum ETF in the first quarter valued at $355,000.

About Invesco Dorsey Wright Energy Momentum ETF

PowerShares Dynamic Energy Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Energy Sector Intellidex Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as energy, materials and utilities. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors.