Significant Increase in Short Interest for Invesco BulletShares 2024 Municipal Bond ETF

The Invesco BulletShares 2024 Municipal Bond ETF (NASDAQ:BSMO) has experienced a dramatic rise in short interest this October. By October 15th, the short interest totaled 10,800 shares, reflecting an astonishing growth of 10,700.0% when compared to only 100 shares reported at the end of September. Given the average trading volume of 34,300 shares, the current days-to-cover ratio stands at 0.3 days.

Institutional Investors Adjusting Their Holdings

Recent months have seen several large institutional investors making adjustments to their positions in BSMO. First Command Advisory Services Inc. entered a new investment in this ETF during the first quarter, with an investment amounting to approximately $55,000. In the second quarter, Addison Advisors LLC increased its stake by 13.8%, bringing their total shares to 6,570, valued now at around $163,000 after purchasing an additional 795 shares. Similarly, Diversify Advisory Services LLC also invested in BSMO during the same period, with an approximate valuation of $200,000. CRA Financial Services LLC took a new position valued at around $223,000, while Hills Bank & Trust Co made a more substantial new investment amounting to approximately $325,000.

Current Stock Performance

As of last Friday, the BSMO stock opened at $24.82. The stock's 50-day simple moving average sits at $24.84, while the 200-day simple moving average is at $24.82. Over the past year, Invesco BulletShares 2024 Municipal Bond ETF has recorded a low of $24.54 and a high of $24.98.

Dividend Increase Announced

BSMO recently declared an increase in its monthly dividend. On October 25th, a dividend of $0.057 was paid to shareholders who held shares as of October 21st. This brings the total annualized dividend to $0.68, translating to a yield of 2.76%. This increase comes from a previous monthly dividend of $0.05.

About Invesco BulletShares 2024 Municipal Bond ETF

The Invesco BulletShares 2024 Municipal Bond ETF (BSMO) aims to primarily invest in investment-grade fixed income securities. The fund is designed to track a market-value-weighted index composed of investment-grade AMT-Free municipal bonds that are set to mature before the end of 2024. Officially launched on September 25, 2019, this ETF is managed by Invesco.

ETF, Interest, Dividend