Short interest in the Invesco Financial Preferred ETF (NYSEARCA:PGF) experienced a significant increase of 48.0% in December 2023. As of December 31, the total short interest reached 95,351 shares, up from 64,444 shares noted on December 15. This surge indicates growing bearish sentiment among investors regarding the ETF’s performance.
The days-to-cover ratio, which reflects how long it would take to cover short positions based on average trading volume, currently stands at 0.2 days. Approximately 0.2% of the total shares are short sold, suggesting a relatively low level of short selling activity compared to the overall trading volume.
Current Performance of Invesco Financial Preferred ETF
In trading on Friday, the Invesco Financial Preferred ETF remained unchanged at $14.40. The trading session saw a volume of 151,868 shares, significantly lower than the average volume of 323,997 shares. The ETF has demonstrated a 50-day moving average of $14.22 and a 200-day moving average of $14.39. Over the past year, the fund recorded a low of $13.61 and a high of $15.00, highlighting its relatively stable performance within a challenging market environment.
Institutional Investment Activity
Recent activity from institutional investors indicates a mixed sentiment towards the Invesco Financial Preferred ETF. Notable transactions include Nvwm LLC, which initiated a new position in the ETF during the second quarter valued at approximately $34,000. Another newcomer, Motco, acquired shares worth around $39,000 during the same period.
Additionally, Rogco LP boosted its stake by an impressive 147.7%, now owning 3,619 shares valued at about $51,000 after acquiring an additional 2,158 shares. Ameritas Advisory Services LLC and Advisory Services Network LLC also entered new positions in the ETF, with investments of $84,000 and $121,000, respectively, during the second and third quarters.
The Invesco Financial Preferred ETF is a non-diversified fund that tracks the Wells Fargo Hybrid and Preferred Financial Index. This index includes securities issued by U.S.-listed financial institutions and is rebalanced on a monthly basis. The ETF generally allocates at least 90% of its total assets to preferred securities that comprise the index, focusing primarily on the financial and insurance sectors.
Investors are encouraged to stay informed about developments related to the Invesco Financial Preferred ETF as market dynamics continue to evolve.
