Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Sees Significant Growth in Short Interest

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 27,947 shares, a growth of 642.3% from the October 15th total of 3,765 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 29,623 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On Invesco Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $649,000. Focus Advisor Solutions LLC increased its position in shares of Invesco Pharmaceuticals ETF by 4.2% during the third quarter. Focus Advisor Solutions LLC now owns 2,152 shares of the company’s stock worth $265,000 after buying an additional 87 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Invesco Pharmaceuticals ETF during the third quarter worth $31,705,000. Harbour Investments Inc. bought a new position in Invesco Pharmaceuticals ETF during the third quarter worth $62,000. Finally, Financial Freedom LLC bought a new position in Invesco Pharmaceuticals ETF during the third quarter worth $48,000.

Invesco Pharmaceuticals ETF Stock Performance

Shares of NYSEARCA:PJP opened at $130.54 on Wednesday. The firm has a market cap of $593.96 million, a PE ratio of 28.57 and a beta of 0.43. The firm’s fifty day moving average is $125.78 and its 200-day moving average is $115.30. Invesco Pharmaceuticals ETF has a 52 week low of $98.55 and a 52 week high of $132.59.

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.