Invesco Building & Construction ETF (NYSEARCA:PKB) Sees Large Decline in Short Interest

Invesco Building & Construction ETF (NYSEARCA:PKB) saw a significant decrease in short interest in October. As of October 30th, there was short interest totaling 1,454 shares, a decrease of 69.9% from the October 15th total of 4,823 shares. Based on an average trading volume of 15,549 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Invesco Building & Construction ETF

A number of large investors have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in shares of Invesco Building & Construction ETF during the 1st quarter worth about $574,000. Independent Financial Group LLC bought a new position in shares of Invesco Building & Construction ETF in the 1st quarter valued at about $1,713,000. Royal Bank of Canada increased its position in shares of Invesco Building & Construction ETF by 308.4% in the first quarter. Royal Bank of Canada now owns 90,245 shares of the company’s stock valued at $8,805,000 after acquiring an additional 68,150 shares during the last quarter. Cetera Investment Advisers raised its holdings in Invesco Building & Construction ETF by 105.3% during the first quarter. Cetera Investment Advisers now owns 127,427 shares of the company’s stock worth $12,433,000 after acquiring an additional 65,365 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Invesco Building & Construction ETF by 86.9% during the first quarter. Bank of America Corp DE now owns 121,030 shares of the company’s stock worth $11,809,000 after acquiring an additional 56,264 shares in the last quarter.

Invesco Building & Construction ETF Stock Performance

PKB stock traded down $1.31 during mid-day trading on Friday, hitting $86.50. 26,753 shares of the company were exchanged, compared to its average volume of 27,767. Invesco Building & Construction ETF has a 1-year low of $84.39 and a 1-year high of $115.81. The firm’s 50 day simple moving average is $90.68 and its 200 day simple moving average is $100.40. The firm has a market cap of $247.39 million, a P/E ratio of 21.11 and a beta of 1.29.

Invesco Building & Construction ETF Company Profile

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction 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 building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.