Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) Sees Large Increase in Short Interest

Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 13,121 shares, a growth of 763.8% from the September 30th total of 1,519 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 38,766 shares, the short-interest ratio is currently 0.3 days.

Invesco Dorsey Wright Energy Momentum ETF Price Performance

Shares of NASDAQ PXI traded up $0.77 during trading hours on Wednesday, hitting $66.51. 3,397 shares of the company’s stock were exchanged, compared to its average volume of 17,052. The company’s 50-day moving average price is $64.39 and its 200-day moving average price is $58.36. Invesco Dorsey Wright Energy Momentum ETF has a 1-year low of $44.56 and a 1-year high of $67.51. The stock has a market capitalization of $81.14 million, a price-to-earnings ratio of 17.22 and a beta of 0.75.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its position in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,909.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,613 shares of the company’s stock worth $6,587,000 after acquiring an additional 105,108 shares during the period. Bank of America Corp DE grew its holdings in shares of Invesco Dorsey Wright Energy Momentum ETF by 31.1% during the 1st quarter. Bank of America Corp DE now owns 46,068 shares of the company’s stock worth $2,743,000 after purchasing an additional 10,930 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of 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 valued at $423,000 after purchasing an additional 3,648 shares during the period. Nwam LLC bought a new stake in shares of Invesco Dorsey Wright Energy Momentum ETF during the second quarter valued at approximately $155,000. Finally, JNBA Financial Advisors acquired a new position in shares of Invesco Dorsey Wright Energy Momentum ETF in the second quarter valued at $148,000.

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.