Short Interest in Invesco Financial Preferred ETF (NYSEARCA:PGF) Grows By 239.5%

Invesco Financial Preferred ETF (NYSEARCA:PGF) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 154,071 shares, an increase of 239.5% from the July 30th total of 45,388 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 169,749 shares, the short-interest ratio is presently 0.9 days.

Invesco Financial Preferred ETF Stock Performance

NYSEARCA:PGF opened at $13.46 on Thursday. Invesco Financial Preferred ETF has a fifty-two week low of $13.34 and a fifty-two week high of $15.00. The firm has a 50-day simple moving average of $13.62 and a two-hundred day simple moving average of $13.89.

Hedge Funds Weigh In On Invesco Financial Preferred ETF

A number of hedge funds have recently added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its holdings in shares of Invesco Financial Preferred ETF by 19.0% during the first quarter. North Star Investment Management Corp. now owns 318,191 shares of the exchange traded fund’s stock valued at $4,378,000 after purchasing an additional 50,749 shares in the last quarter. Fifth Third Bancorp bought a new stake in Invesco Financial Preferred ETF in the 1st quarter worth about $1,021,000. D.A. Davidson & CO. increased its holdings in Invesco Financial Preferred ETF by 4.1% in the 1st quarter. D.A. Davidson & CO. now owns 78,203 shares of the exchange traded fund’s stock worth $1,076,000 after buying an additional 3,102 shares in the last quarter. International Assets Investment Management LLC raised its position in Invesco Financial Preferred ETF by 18.6% in the 1st quarter. International Assets Investment Management LLC now owns 65,378 shares of the exchange traded fund’s stock worth $905,000 after buying an additional 10,237 shares during the last quarter. Finally, Keudell Morrison Wealth Management purchased a new position in Invesco Financial Preferred ETF in the 1st quarter worth about $210,000.

Invesco Financial Preferred ETF Company Profile

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.