Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Short Interest Up 4,293.7% in July

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 24,473 shares, an increase of 4,293.7% from the June 30th total of 557 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 43,223 shares, the days-to-cover ratio is presently 0.6 days.

Invesco Dorsey Wright Financial Momentum ETF Stock Up 0.7%

Shares of NASDAQ PFI traded up $0.46 during midday trading on Friday, hitting $62.02. The stock had a trading volume of 2,110 shares, compared to its average volume of 8,310. The business’s 50 day moving average is $60.47 and its 200-day moving average is $57.93. Invesco Dorsey Wright Financial Momentum ETF has a 52 week low of $51.57 and a 52 week high of $64.00. The company has a market cap of $55.20 million, a P/E ratio of 18.63 and a beta of 1.01.

Hedge Funds Weigh In On Invesco Dorsey Wright Financial Momentum ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFI. Darwin Wealth Management LLC bought a new stake in shares of Invesco Dorsey Wright Financial Momentum ETF in the 4th quarter worth $35,000. Geneos Wealth Management Inc. boosted its position in shares of Invesco Dorsey Wright Financial Momentum ETF by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock valued at $102,000 after buying an additional 1,200 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Invesco Dorsey Wright Financial Momentum ETF in the 4th quarter worth about $115,000. Jones Financial Companies Lllp raised its position in Invesco Dorsey Wright Financial Momentum ETF by 677.4% in the 1st quarter. Jones Financial Companies Lllp now owns 2,612 shares of the company’s stock worth $140,000 after buying an additional 2,276 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Invesco Dorsey Wright Financial Momentum ETF by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 5,116 shares of the company’s stock worth $295,000 after buying an additional 225 shares during the last quarter.

About Invesco Dorsey Wright Financial Momentum ETF

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.