Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) Sees Significant Growth in Short Interest

Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 9,800 shares, an increase of 216.1% from the February 28th total of 3,100 shares. Based on an average daily trading volume, of 88,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Invesco Dorsey Wright Industrials Momentum ETF by 5.1% during the third quarter. Larson Financial Group LLC now owns 1,964 shares of the company’s stock worth $300,000 after acquiring an additional 95 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Invesco Dorsey Wright Industrials Momentum ETF during the 3rd quarter worth $31,000. FMR LLC grew its position in shares of Invesco Dorsey Wright Industrials Momentum ETF by 17.1% in the third quarter. FMR LLC now owns 404 shares of the company’s stock valued at $62,000 after purchasing an additional 59 shares during the period. HighTower Advisors LLC acquired a new position in Invesco Dorsey Wright Industrials Momentum ETF in the third quarter valued at $19,248,000. Finally, Stifel Financial Corp purchased a new position in Invesco Dorsey Wright Industrials Momentum ETF during the third quarter worth about $2,694,000.

Invesco Dorsey Wright Industrials Momentum ETF Stock Down 1.7 %

NASDAQ PRN opened at $137.79 on Friday. Invesco Dorsey Wright Industrials Momentum ETF has a fifty-two week low of $126.68 and a fifty-two week high of $180.08. The business has a fifty day moving average of $150.15 and a 200-day moving average of $156.93. The stock has a market cap of $345.85 million, a price-to-earnings ratio of 26.47 and a beta of 1.07.

Invesco Dorsey Wright Industrials Momentum ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a $0.006 dividend. The ex-dividend date was Monday, March 24th.

Invesco Dorsey Wright Industrials Momentum ETF Company Profile

PowerShares Dynamic Industrials Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Industrials Sector Intellidex Index (the Index). The Index consists of stocks of 60 United States industrial companies. These are companies that are principally engaged in the business of providing industrial products and services, including engineering, heavy machinery, construction, electrical equipment, aerospace and defense, and general manufacturing.