Invesco Food & Beverage ETF (NYSEARCA:PBJ) Shares Shorted: Short Interest Up 701.5% in September

by · The Cerbat Gem

Invesco Food & Beverage ETF (NYSEARCA:PBJ – Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 37,068 shares, a growth of 701.5% from the August 31st total of 4,625 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 33,800 shares, the short-interest ratio is currently 1.1 days.

Invesco Food & Beverage ETF Price Performance

NYSEARCA:PBJ traded down $0.04 during mid-day trading on Thursday, reaching $45.38. 12,487 shares of the company’s stock traded hands, compared to its average volume of 20,611. The firm has a market capitalization of $84.86 million, a price-to-earnings ratio of 19.85 and a beta of 0.48. The company has a 50 day moving average price of $47.70 and a 200-day moving average price of $48.22. Invesco Food & Beverage ETF has a 12-month low of $42.69 and a 12-month high of $51.07.

Hedge Funds Weigh In On Invesco Food & Beverage ETF

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in Invesco Food & Beverage ETF by 60.6% in the first quarter. Bank of America Corp DE now owns 84,716 shares of the company’s stock valued at $4,148,000 after acquiring an additional 31,967 shares during the period. Howe & Rusling Inc. raised its holdings in Invesco Food & Beverage ETF by 1.5% during the first quarter. Howe & Rusling Inc. now owns 42,967 shares of the company’s stock valued at $2,104,000 after acquiring an additional 640 shares during the period. Kestra Advisory Services LLC lifted its position in shares of Invesco Food & Beverage ETF by 720.5% in the first quarter. Kestra Advisory Services LLC now owns 15,154 shares of the company’s stock valued at $742,000 after acquiring an additional 13,307 shares in the last quarter. Compass Financial Management LLC bought a new position in shares of Invesco Food & Beverage ETF in the second quarter worth about $224,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Invesco Food & Beverage ETF in the first quarter worth about $202,000.

About Invesco Food & Beverage ETF

(Get Free Report)

PowerShares Dynamic Food & Beverage Portfolio (the Fund) is based on the Dynamic Food & Beverage Intellidex Index (Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. 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.

See Also