Invesco Food & Beverage ETF (NYSEARCA:PBJ) Stock Short Interest Rises 701.5%

Invesco Food & Beverage ETF (NYSEARCA:PBJ) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 37,068 shares, an increase of 701.5% from the August 31st total of 4,625 shares. Based on an average daily trading volume, of 33,800 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.0% of the shares of the stock are short sold.

Invesco Food & Beverage ETF Price Performance

Shares of PBJ stock traded down $0.04 during mid-day trading on Thursday, hitting $45.38. The company had a trading volume of 12,487 shares, compared to its average volume of 20,611. The stock’s 50 day moving average price is $47.70 and its 200-day moving average price is $48.22. Invesco Food & Beverage ETF has a 52-week low of $42.69 and a 52-week high of $51.07. The company has a market capitalization of $84.86 million, a P/E ratio of 19.85 and a beta of 0.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PBJ. Compass Financial Management LLC purchased a new stake in shares of Invesco Food & Beverage ETF in the second quarter worth about $224,000. Parallel Advisors LLC grew its holdings in Invesco Food & Beverage ETF by 139.1% during the 1st quarter. Parallel Advisors LLC now owns 985 shares of the company’s stock valued at $48,000 after buying an additional 573 shares in the last quarter. Bank of America Corp DE increased its stake in Invesco Food & Beverage ETF by 60.6% in the 1st quarter. Bank of America Corp DE now owns 84,716 shares of the company’s stock worth $4,148,000 after acquiring an additional 31,967 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Invesco Food & Beverage ETF by 720.5% during the 1st quarter. Kestra Advisory Services LLC now owns 15,154 shares of the company’s stock worth $742,000 after acquiring an additional 13,307 shares in the last quarter. Finally, Howe & Rusling Inc. boosted its position in shares of Invesco Food & Beverage ETF by 1.5% during the 1st quarter. Howe & Rusling Inc. now owns 42,967 shares of the company’s stock valued at $2,104,000 after acquiring an additional 640 shares during the last quarter.

About Invesco Food & Beverage ETF

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in common stocks that consists of the Index. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.