Invesco CurrencyShares Euro Trust (NYSEARCA:FXE – Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 526,764 shares, a drop of 41.7% from the August 15th total of 903,062 shares. Based on an average trading volume of 71,898 shares, the short-interest ratio is presently 7.3 days. Approximately 16.5% of the shares of the stock are short sold.
Invesco CurrencyShares Euro Trust Trading Up 0.1%
Shares of NYSEARCA FXE opened at $105.91 on Friday. The business has a 50-day moving average of $106.46 and a 200-day moving average of $106.79. The firm has a market capitalization of $324.08 million, a price-to-earnings ratio of -92.16 and a beta of 0.17. Invesco CurrencyShares Euro Trust has a 12 month low of $104.60 and a 12 month high of $111.54.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in Invesco CurrencyShares Euro Trust during the second quarter worth about $39,000. Corient Private Wealth LP grew its position in Invesco CurrencyShares Euro Trust by 41.0% during the second quarter. Corient Private Wealth LP now owns 3,300 shares of the exchange traded fund’s stock valued at $348,000 after acquiring an additional 959 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Invesco CurrencyShares Euro Trust by 58.7% during the first quarter. Bank of America Corp DE now owns 35,723 shares of the exchange traded fund’s stock worth $3,811,000 after acquiring an additional 13,215 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Invesco CurrencyShares Euro Trust by 37.7% in the 1st quarter. Royal Bank of Canada now owns 14,184 shares of the exchange traded fund’s stock valued at $1,514,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Cannell & Spears LLC bought a new position in shares of Invesco CurrencyShares Euro Trust during the 1st quarter valued at $242,000.
Invesco CurrencyShares Euro Trust Company Profile
Guggenheim CurrencyShares Euro Trust, formerly CurrencyShares Euro Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of euro and distributes euro in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of euro plus accrued interest. The Shares are intended to offer investors an opportunity to participate in the market for the euro through an investment in securities.
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