The Invesco BuyBack Achievers ETF (NASDAQ: PKW) experienced a notable increase in short interest, with figures showing a rise of 82.4% in December. As of December 15, 2023, short interest reached 28,800 shares, up from 15,791 shares reported on November 30, 2023. With an average daily trading volume of 22,705 shares, the current days-to-cover ratio stands at 1.3 days, indicating a modest short-selling activity, as only 0.3% of the company’s shares are sold short.
Institutional Investments Shift
Recent changes among institutional investors have further shaped the landscape for the Invesco BuyBack Achievers ETF. MAI Capital Management increased its stake by 1.5%, now holding 5,655 shares valued at approximately $637,000 after acquiring an additional 85 shares last quarter. Similarly, Integrated Wealth Concepts LLC raised its holdings by 9.0%, resulting in ownership of 4,148 shares worth $467,000 after purchasing 342 shares.
In a more dramatic shift, NewEdge Advisors LLC significantly boosted its position by 172.7%, now owning 24,164 shares valued at $2,722,000 following the acquisition of 15,304 shares. Other notable moves include Jane Street Group LLC, which entered the market with a new stake valued at $417,000, and Belpointe Asset Management LLC, which also bought into the ETF with a stake worth $1,067,000.
Current Trading Status
As of Tuesday, shares of the Invesco BuyBack Achievers ETF opened at $135.62. Over the past year, the ETF has fluctuated, marking a low of $96.10 and a high of $136.88. The 50-day moving average currently sits at $132.11, while the 200-day moving average is at $129.43. The fund boasts a market capitalization of $1.54 billion and a price-to-earnings ratio of 15.13, with a beta of 1.05.
The Invesco BuyBack Achievers ETF aims to track the performance of companies that have significantly repurchased their own shares. To qualify for inclusion in the BuyBack Achievers Index, a company must be incorporated in the United States, trade on a United States exchange, and have repurchased at least 5% of its outstanding shares over the trailing twelve months.
Investors and analysts alike are closely monitoring these developments, particularly in light of the ETF’s recent performance and the implications of increased institutional investment. As trading dynamics continue to evolve, the Invesco BuyBack Achievers ETF remains a focal point in discussions about market trends and investment strategies.
