Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Large Decline in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 2,300 shares, a decrease of 62.3% from the February 28th total of 6,100 shares. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Invesco Dorsey Wright Utilities Momentum ETF Price Performance

PUI traded up $0.42 on Friday, reaching $40.67. The company’s stock had a trading volume of 2,440 shares, compared to its average volume of 8,628. The stock has a market cap of $45.55 million, a price-to-earnings ratio of 20.35 and a beta of 0.67. The business’s 50 day moving average is $40.45 and its 200 day moving average is $40.17. Invesco Dorsey Wright Utilities Momentum ETF has a 1 year low of $32.25 and a 1 year high of $42.78.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 24th will be given a dividend of $0.2554 per share. This is a boost from Invesco Dorsey Wright Utilities Momentum ETF’s previous dividend of $0.20. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Trading of Invesco Dorsey Wright Utilities Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Invesco Dorsey Wright Utilities Momentum ETF by 60.1% in the 4th quarter. Private Advisor Group LLC now owns 8,651 shares of the company’s stock valued at $335,000 after acquiring an additional 3,248 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Invesco Dorsey Wright Utilities Momentum ETF during the fourth quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Invesco Dorsey Wright Utilities Momentum ETF during the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new position in Invesco Dorsey Wright Utilities Momentum ETF in the 4th quarter worth approximately $1,102,000. Finally, Independent Advisor Alliance acquired a new stake in Invesco Dorsey Wright Utilities Momentum ETF in the 4th quarter valued at approximately $2,000,000.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index).