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

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUIGet Free Report) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 5,704 shares, a decrease of 50.2% from the May 14th total of 11,459 shares. Based on an average daily volume of 7,413 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On Invesco Dorsey Wright Utilities Momentum ETF

Several large investors have recently made changes to their positions in the company. Arax Advisory Partners acquired a new position in Invesco Dorsey Wright Utilities Momentum ETF during the 4th quarter worth about $65,000. JPMorgan Chase & Co. lifted its position in Invesco Dorsey Wright Utilities Momentum ETF by 4,771.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company’s stock worth $119,000 after buying an additional 2,529 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Invesco Dorsey Wright Utilities Momentum ETF by 1,659.7% during the 1st quarter. Sunbelt Securities Inc. now owns 2,622 shares of the company’s stock worth $123,000 after buying an additional 2,473 shares in the last quarter. Parallel Advisors LLC lifted its position in Invesco Dorsey Wright Utilities Momentum ETF by 513.7% during the 1st quarter. Parallel Advisors LLC now owns 3,130 shares of the company’s stock worth $147,000 after buying an additional 2,620 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Invesco Dorsey Wright Utilities Momentum ETF during the 2nd quarter worth about $173,000.

Invesco Dorsey Wright Utilities Momentum ETF Price Performance

Shares of PUI traded up $0.33 during trading hours on Monday, hitting $46.77. The stock had a trading volume of 6,256 shares, compared to its average volume of 12,499. The company’s fifty day moving average is $47.16 and its two-hundred day moving average is $46.16. Invesco Dorsey Wright Utilities Momentum ETF has a 52 week low of $40.88 and a 52 week high of $49.30. The stock has a market capitalization of $76.24 million, a price-to-earnings ratio of 20.63 and a beta of 0.64.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a $0.2594 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, March 23rd. This is a positive change from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.25.

Invesco Dorsey Wright Utilities Momentum ETF Company Profile

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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). The Fund normally invests at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as consumer discretionary, information technology, telecommunication services and utilities.

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