Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) Stock Short Interest Falls 46.9%

Invesco Biotechnology & Genome ETF (NYSEARCA:PBE) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 12,266 shares, a drop of 46.9% from the August 31st total of 23,089 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 21,309 shares, the days-to-cover ratio is presently 0.6 days.

Invesco Biotechnology & Genome ETF Stock Up 0.1%

PBE traded up $0.13 during trading on Wednesday, hitting $97.29. 11,656 shares of the stock were exchanged, compared to its average volume of 13,891. The firm has a market capitalization of $424.18 million, a P/E ratio of 20.44 and a beta of 0.71. Invesco Biotechnology & Genome ETF has a 1-year low of $69.95 and a 1-year high of $98.82. The stock has a fifty day moving average price of $94.64 and a two-hundred day moving average price of $87.11.

Hedge Funds Weigh In On Invesco Biotechnology & Genome ETF

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in Invesco Biotechnology & Genome ETF by 25.9% in the 1st quarter. Royal Bank of Canada now owns 59,329 shares of the company’s stock valued at $4,698,000 after purchasing an additional 12,215 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Invesco Biotechnology & Genome ETF during the 2nd quarter worth $484,000. Envestnet Asset Management Inc. grew its position in Invesco Biotechnology & Genome ETF by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,250 shares of the company’s stock worth $1,995,000 after purchasing an additional 888 shares during the last quarter. Archford Capital Strategies LLC grew its position in Invesco Biotechnology & Genome ETF by 6.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 6,252 shares of the company’s stock worth $560,000 after purchasing an additional 395 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Invesco Biotechnology & Genome ETF in the second quarter valued at $84,000.

About Invesco Biotechnology & Genome ETF

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.