Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Sees Significant Drop in Short Interest

Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 7,784 shares, a drop of 39.5% from the September 30th total of 12,856 shares. Based on an average daily volume of 11,229 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Invesco Biotechnology & Genome ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBE. Commonwealth Equity Services LLC acquired a new position in shares of Invesco Biotechnology & Genome ETF during the 3rd quarter worth about $1,236,000. Outlook Wealth Advisors LLC acquired a new position in Invesco Biotechnology & Genome ETF during the third quarter worth $1,468,000. Oakworth Capital Inc. acquired a new position in Invesco Biotechnology & Genome ETF during the third quarter worth $59,000. Penobscot Investment Management Company Inc. bought a new stake in Invesco Biotechnology & Genome ETF during the third quarter worth $1,892,000. Finally, Sowell Financial Services LLC bought a new stake in Invesco Biotechnology & Genome ETF during the third quarter worth $298,000.

Invesco Biotechnology & Genome ETF Price Performance

NYSEARCA:PBE traded down $1.37 during trading hours on Monday, reaching $101.13. 28,703 shares of the stock were exchanged, compared to its average volume of 14,044. Invesco Biotechnology & Genome ETF has a twelve month low of $73.16 and a twelve month high of $104.24. The firm has a 50 day moving average of $96.99 and a 200 day moving average of $87.26. The stock has a market cap of $439.92 million, a PE ratio of 20.44 and a beta of 0.70.

Invesco Biotechnology & Genome ETF Company Profile

PowerShares Dynamic Biotechnology & Genome Portfolio (the Fund) is based on the Dynamic Biotechnology & Genome Intellidex Index (the Index). The Fund seeks investment results that correspond generally to the price and yield of the Index. The Index consists of stocks of 30 the United States biotechnology and genome companies. 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.