Short Interest in Invesco Pharmaceuticals ETF (NYSEARCA:PJP) Drops By 21.3%
by Michael Walen · The Markets DailyInvesco Pharmaceuticals ETF (NYSEARCA:PJP – Get Free Report) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 15,881 shares, a drop of 21.3% from the November 30th total of 20,178 shares. Based on an average daily volume of 12,131 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.6% of the shares of the company are short sold. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 12,131 shares, the days-to-cover ratio is currently 1.3 days.
Invesco Pharmaceuticals ETF Stock Down 1.8%
PJP traded down $1.87 during mid-day trading on Thursday, reaching $104.54. 60,478 shares of the company traded hands, compared to its average volume of 8,293. The company’s fifty day moving average price is $102.89 and its 200-day moving average price is $93.08. The stock has a market capitalization of $298.98 million, a P/E ratio of 15.59 and a beta of 0.50. Invesco Pharmaceuticals ETF has a 52-week low of $72.25 and a 52-week high of $108.40.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of PJP. Envestnet Asset Management Inc. boosted its holdings in shares of Invesco Pharmaceuticals ETF by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 19,547 shares of the company’s stock worth $1,561,000 after buying an additional 1,040 shares during the last quarter. Joseph Group Capital Management raised its position in Invesco Pharmaceuticals ETF by 9.9% in the second quarter. Joseph Group Capital Management now owns 21,242 shares of the company’s stock worth $1,697,000 after acquiring an additional 1,907 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of Invesco Pharmaceuticals ETF by 6.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,892 shares of the company’s stock worth $2,416,000 after acquiring an additional 1,645 shares during the last quarter. Trilogy Capital Inc. purchased a new position in shares of Invesco Pharmaceuticals ETF during the 2nd quarter worth $1,330,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in shares of Invesco Pharmaceuticals ETF during the 2nd quarter valued at $28,000.
About Invesco Pharmaceuticals ETF
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.