Invesco Building & Construction ETF (NYSEARCA:PKB) Sees Large Increase in Short Interest

Invesco Building & Construction ETF (NYSEARCA:PKB) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 22,131 shares, an increase of 298.5% from the December 15th total of 5,554 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 13,753 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 13,753 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.7% of the shares of the company are sold short.

Invesco Building & Construction ETF Stock Up 0.4%

Shares of NYSEARCA:PKB traded up $0.35 on Tuesday, reaching $100.24. 10,888 shares of the company’s stock were exchanged, compared to its average volume of 21,564. The firm has a market capitalization of $306.75 million, a price-to-earnings ratio of 21.37 and a beta of 1.30. Invesco Building & Construction ETF has a fifty-two week low of $59.89 and a fifty-two week high of $100.25. The business’s 50-day moving average is $94.72 and its two-hundred day moving average is $91.93.

Hedge Funds Weigh In On Invesco Building & Construction ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of PKB. UBS Group AG grew its holdings in shares of Invesco Building & Construction ETF by 240.4% during the third quarter. UBS Group AG now owns 66,043 shares of the company’s stock valued at $6,314,000 after purchasing an additional 46,643 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Invesco Building & Construction ETF by 1,539.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 47,207 shares of the company’s stock valued at $3,178,000 after purchasing an additional 44,327 shares during the period. BNP Paribas Financial Markets boosted its position in Invesco Building & Construction ETF by 244.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,000 shares of the company’s stock valued at $1,912,000 after purchasing an additional 14,200 shares during the period. Guerra Advisors Inc bought a new position in Invesco Building & Construction ETF during the 3rd quarter worth $1,227,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Invesco Building & Construction ETF by 22.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 64,467 shares of the company’s stock worth $6,163,000 after buying an additional 11,925 shares during the last quarter.

About Invesco Building & Construction ETF

PowerShares Dynamic Building & Construction Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Building & Construction Intellidex Index (the Index). The Index evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Index consists of stocks of 30 United States building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports.