Invesco Building & Construction ETF (NYSEARCA:PKB) Short Interest Up 670.8% in April

Invesco Building & Construction ETF (NYSEARCA:PKB) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 25,991 shares, a growth of 670.8% from the March 31st total of 3,372 shares. Based on an average daily volume of 16,295 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC boosted its position in shares of Invesco Building & Construction ETF by 82.5% during the 1st quarter. Apollon Wealth Management LLC now owns 4,909 shares of the company’s stock valued at $479,000 after acquiring an additional 2,219 shares during the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in Invesco Building & Construction ETF during the 1st quarter valued at $322,000. EP Wealth Advisors LLC purchased a new stake in Invesco Building & Construction ETF in the fourth quarter worth $624,000. one8zero8 LLC purchased a new stake in Invesco Building & Construction ETF in the fourth quarter worth $31,000. Finally, Cetera Investment Advisers increased its stake in Invesco Building & Construction ETF by 2.3% in the fourth quarter. Cetera Investment Advisers now owns 62,062 shares of the company’s stock worth $5,746,000 after purchasing an additional 1,408 shares during the period.

Invesco Building & Construction ETF Price Performance

Shares of NYSEARCA PKB traded down $0.15 during midday trading on Friday, reaching $107.50. 13,756 shares of the stock traded hands, compared to its average volume of 33,726. The stock has a market capitalization of $448.28 million, a PE ratio of 21.37 and a beta of 1.32. Invesco Building & Construction ETF has a one year low of $68.20 and a one year high of $111.24. The company’s 50 day moving average is $102.61 and its 200 day moving average is $98.92.

About Invesco Building & Construction ETF

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction 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 building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.