The Invesco BuyBack Achievers ETF (NASDAQ:PKW) experienced a notable increase in short interest during December 2023. As of December 15, the total short interest reached 28,800 shares, marking an impressive rise of 82.4% from the previous month’s total of 15,791 shares. With an average daily trading volume of 22,705 shares, the days-to-cover ratio stands at 1.3 days. Currently, only 0.3% of the ETF’s total shares are sold short.
Institutional Investors Adjust Positions
Recent data reveals that institutional investors have been actively adjusting their stakes in the Invesco BuyBack Achievers ETF. For instance, MAI Capital Management increased its position by 1.5% during the first quarter, acquiring an additional 85 shares to reach a total of 5,655 shares, valued at approximately $637,000.
Similarly, Integrated Wealth Concepts LLC raised its holdings by 9.0%, now owning 4,148 shares worth about $467,000 after purchasing an additional 342 shares. In a more substantial move, NewEdge Advisors LLC lifted its position by an impressive 172.7%, securing 24,164 shares valued at around $2.72 million after acquiring an additional 15,304 shares.
Other notable investors include Jane Street Group LLC, which established a new stake valued at $417,000, and Belpointe Asset Management LLC, which also initiated a new investment worth $1.067 million.
Current Trading Status
As of Tuesday, shares of the Invesco BuyBack Achievers ETF opened at $135.62. The ETF has experienced a yearly fluctuation, with a low of $96.10 and a high of $136.88. The 50-day moving average is currently at $132.11, while the 200-day moving average sits at $129.43. The ETF maintains a market capitalization of $1.54 billion, a price-to-earnings ratio of 15.13, and a beta of 1.05.
Investors looking into the Invesco BuyBack Achievers ETF should be aware of its strategy, which aims to track the performance of companies identified as BuyBack Achievers. To qualify for this index, companies must be U.S.-incorporated, listed on a U.S. exchange, and must have repurchased at least 5% of their outstanding shares over the past twelve months.
As institutional interest continues to shift and short interest surges, the landscape for the Invesco BuyBack Achievers ETF remains dynamic, reflecting broader market trends and investor strategies.
