Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) Sees Significant Decline in Short Interest

Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 1,780 shares, a drop of 52.0% from the July 15th total of 3,708 shares. Based on an average daily trading volume, of 23,512 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,909.3% in the first quarter. Janney Montgomery Scott LLC now owns 110,613 shares of the company’s stock worth $6,587,000 after purchasing an additional 105,108 shares during the last quarter. Bank of America Corp DE grew its holdings in 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 valued at $2,743,000 after buying an additional 10,930 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Invesco Dorsey Wright Energy Momentum ETF by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 32,510 shares of the company’s stock valued at $1,470,000 after buying an additional 2,046 shares in the last quarter. IHT Wealth Management LLC bought a new stake in Invesco Dorsey Wright Energy Momentum ETF in the 4th quarter worth approximately $976,000. Finally, Tower Research Capital LLC TRC increased its stake in Invesco Dorsey Wright Energy Momentum ETF by 49.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,374 shares of the company’s stock worth $577,000 after acquiring an additional 4,431 shares during the last quarter.

Invesco Dorsey Wright Energy Momentum ETF Price Performance

Shares of PXI stock traded up $0.11 during mid-day trading on Tuesday, hitting $63.99. The company had a trading volume of 1,316 shares, compared to its average volume of 18,299. Invesco Dorsey Wright Energy Momentum ETF has a 52-week low of $40.88 and a 52-week high of $64.40. The stock’s 50 day moving average price is $57.62 and its 200-day moving average price is $57.08. The company has a market capitalization of $56.31 million, a P/E ratio of 17.22 and a beta of 0.63.

Invesco Dorsey Wright Energy Momentum ETF Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were issued a $0.1822 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 22nd.

Invesco Dorsey Wright Energy Momentum ETF Company Profile

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.