Invesco Ultra Short Duration ETF (NYSEARCA:GSY) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco Ultra Short Duration ETF (NYSEARCA:GSY) saw unusually-strong trading volume on Tuesday . Approximately 2,321,550 shares were traded during trading, an increase of 178% from the previous session’s volume of 835,900 shares.The stock last traded at $50.2950 and had previously closed at $50.29.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised shares of Invesco Ultra Short Duration ETF to a “hold” rating in a research note on Wednesday, October 1st.

Invesco Ultra Short Duration ETF Stock Down 0.0%

The firm has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $50.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Invesco Ultra Short Duration ETF by 35.3% during the second quarter. Bank of America Corp DE now owns 1,560,270 shares of the company’s stock valued at $78,232,000 after purchasing an additional 406,664 shares during the period. UBS Group AG boosted its position in shares of Invesco Ultra Short Duration ETF by 9.5% during the third quarter. UBS Group AG now owns 1,353,803 shares of the company’s stock worth $68,007,000 after purchasing an additional 117,498 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Invesco Ultra Short Duration ETF by 10.0% in the 3rd quarter. Raymond James Financial Inc. now owns 1,001,672 shares of the company’s stock valued at $50,318,000 after buying an additional 90,754 shares during the period. Cetera Investment Advisers increased its position in shares of Invesco Ultra Short Duration ETF by 5.5% in the 2nd quarter. Cetera Investment Advisers now owns 967,552 shares of the company’s stock valued at $48,513,000 after buying an additional 50,445 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of Invesco Ultra Short Duration ETF by 2.7% in the 3rd quarter. Axxcess Wealth Management LLC now owns 954,108 shares of the company’s stock valued at $47,929,000 after buying an additional 25,089 shares in the last quarter.

About Invesco Ultra Short Duration ETF

The Invesco Ultra Short Duration ETF (GSY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund seeks to outperform the Barclays Capital 1-3 Month U.S. Treasury Bill Index by investing in a diverse portfolio of investment-grade securities. GSY was launched on Feb 12, 2008 and is managed by Invesco.