Invesco Dorsey Wright Momentum ETF Witnesses Notable Decrease in Short Interest

The Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) experienced a considerable decline in short interest during the month of February. As the month came to a close on February 29th, the reported short interest had fallen to 9,900 shares, representing a significant decrease of 40.4% from the 16,600 shares recorded on February 14th. With an average daily volume of 29,900 shares traded, the current short-interest ratio now stands at 0.3 days.

Institutional Investors Activity

Recent months have seen varying activities by institutional investors in the ETF. JPMorgan Chase & Co., for instance, increased its holdings in the Invesco Dorsey Wright Momentum ETF by 2.2% in the first quarter, now owning 92,923 shares valued at approximately $7.53 million, after an acquisition of an additional 1,960 shares. Similarly, PNC Financial Services Group Inc. augmented its stake by 23.9%, possessing 4,781 shares worth $387,000 after adding 923 shares to its assets. NewEdge Advisors LLC's stake rose by 14.6%, reaching a total of 211,170 shares valued at $17.1 million after they acquired an additional 26,842 shares. Renaissance Technologies LLC has also initiated a position during the first quarter, investing around $697,000 in the ETF. Furthermore, Fort Point Capital Partners LLC increased its holdings by 5.2%, owning 19,893 shares with a value of $1.61 million, following a purchase of an additional 980 shares.

Performance of the ETF's Stock

The stock commenced trading at $96.45 on a recent Wednesday. PDP boasts a market capitalization of $1.26 billion, a price-to-earnings ratio of 14.52, and a beta of 1.02. The ETF's shares have been navigating around a 50-day moving average price of $89.79 and a longer-term 200-day moving average price of $83.18, with a low of $71.15 and a peak of $97.64 over fifty-two weeks.

Dividend Payout Announcement

In addition to performance metrics, the Invesco Dorsey Wright Momentum ETF announced a quarterly dividend, paid to shareholders on December 22nd. Eligible shareholders registered by December 19th received $0.0961 per share, translating to a $0.38 dividend annually and representing a yield of 0.40%. The ex-dividend date was established as December 18th.

About Invesco Dorsey Wright Momentum ETF

The ETF is based on the Dorsey Wright Technical Leaders Index, aiming to deliver investment results akin to the index's performance. Typically, the fund commits at least 90% of its assets to securities from the index or to American Depositary Receipts (ADRs) derived from those securities.

Invesco, ETF, ShortInterest