Short Interest in Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Declines By 81.1%

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 1,015 shares, a drop of 81.1% from the February 26th total of 5,366 shares. Based on an average trading volume of 13,272 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are short sold. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 13,272 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Peak Asset Management LLC grew its holdings in Invesco Pharmaceuticals ETF by 2.5% during the second quarter. Peak Asset Management LLC now owns 136,156 shares of the company’s stock worth $10,875,000 after buying an additional 3,339 shares in the last quarter. LPL Financial LLC boosted its holdings in Invesco Pharmaceuticals ETF by 5.6% during the 4th quarter. LPL Financial LLC now owns 59,366 shares of the company’s stock worth $6,206,000 after acquiring an additional 3,156 shares during the last quarter. Wells Fargo & Company MN boosted 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 worth $3,949,000 after acquiring an additional 18,576 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco Pharmaceuticals ETF by 829.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,941 shares of the company’s stock worth $2,712,000 after acquiring an additional 23,150 shares in the last quarter. Finally, Joseph Group Capital Management grew its stake in shares of Invesco Pharmaceuticals ETF by 4.2% in the 3rd quarter. Joseph Group Capital Management now owns 22,131 shares of the company’s stock worth $2,047,000 after acquiring an additional 889 shares in the last quarter.

Invesco Pharmaceuticals ETF Stock Up 2.2%

PJP stock traded up $2.21 during mid-day trading on Wednesday, reaching $102.03. 23,085 shares of the company traded hands, compared to its average volume of 42,233. The firm’s 50 day moving average price is $106.19 and its 200 day moving average price is $101.90. The stock has a market cap of $389.75 million, a price-to-earnings ratio of 15.59 and a beta of 0.50. Invesco Pharmaceuticals ETF has a fifty-two week low of $72.25 and a fifty-two week high of $110.81.

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.