Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Shares Shorted: Short Interest Up 642.3% in October

Invesco Pharmaceuticals ETF (NYSEARCA:PJP) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 27,947 shares, a growth of 642.3% from the October 15th total of 3,765 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 29,623 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC bought a new stake in Invesco Pharmaceuticals ETF during the 3rd quarter worth approximately $31,705,000. Bank of America Corp DE increased its position in Invesco Pharmaceuticals ETF by 234.0% in the 1st quarter. Bank of America Corp DE now owns 74,458 shares of the company’s stock valued at $7,726,000 after acquiring an additional 52,165 shares during the period. Royal Bank of Canada increased its holdings in Invesco Pharmaceuticals ETF by 479.8% in the first quarter. Royal Bank of Canada now owns 62,377 shares of the company’s stock valued at $6,472,000 after purchasing an additional 51,619 shares during the period. Trek Financial LLC bought a new position in Invesco Pharmaceuticals ETF during the 3rd quarter worth $5,720,000. Finally, Envestnet Asset Management Inc. raised its position in Invesco Pharmaceuticals ETF by 35.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 36,897 shares of the company’s stock worth $4,370,000 after purchasing an additional 9,741 shares during the last quarter.

Invesco Pharmaceuticals ETF Stock Down 0.5%

Shares of PJP stock traded down $0.69 during mid-day trading on Thursday, reaching $130.51. 49,383 shares of the stock traded hands, compared to its average volume of 36,195. The company has a market cap of $593.82 million, a price-to-earnings ratio of 28.57 and a beta of 0.43. The stock’s fifty day simple moving average is $125.85 and its two-hundred day simple moving average is $115.56. Invesco Pharmaceuticals ETF has a 1-year low of $99.05 and a 1-year high of $132.59.

Invesco Pharmaceuticals ETF Company Profile

PowerShares Dynamic Pharmaceuticals Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Pharmaceuticals 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 pharmaceutical companies. These are companies that are principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.