Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Large Drop in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 600 shares, a drop of 57.1% from the October 31st total of 1,400 shares. Based on an average daily volume of 10,600 shares, the days-to-cover ratio is presently 0.1 days.

Invesco Dorsey Wright Utilities Momentum ETF Stock Down 0.3 %

PUI traded down $0.11 during trading on Thursday, reaching $42.60. 1,169 shares of the company’s stock were exchanged, compared to its average volume of 7,333. The company has a market capitalization of $58.36 million, a P/E ratio of 20.82 and a beta of 0.60. The business has a 50 day moving average price of $40.40 and a 200 day moving average price of $37.79. Invesco Dorsey Wright Utilities Momentum ETF has a fifty-two week low of $30.23 and a fifty-two week high of $42.78.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a $0.23 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.16%. This is a boost from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PUI. Capital Advisors Ltd. LLC grew its stake in shares of Invesco Dorsey Wright Utilities Momentum ETF by 1.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 17,705 shares of the company’s stock valued at $616,000 after purchasing an additional 279 shares during the period. ROI Financial Advisors LLC grew its position in Invesco Dorsey Wright Utilities Momentum ETF by 1.2% in the third quarter. ROI Financial Advisors LLC now owns 43,407 shares of the company’s stock valued at $1,756,000 after acquiring an additional 497 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Invesco Dorsey Wright Utilities Momentum ETF by 12.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 15,710 shares of the company’s stock worth $529,000 after acquiring an additional 1,750 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Invesco Dorsey Wright Utilities Momentum ETF during the third quarter valued at $219,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Invesco Dorsey Wright Utilities Momentum ETF in the 2nd quarter valued at $962,000.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index).