Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Significant Decline in Short Interest

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 11,100 shares, a drop of 54.1% from the February 13th total of 24,200 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 24,700 shares, the short-interest ratio is currently 0.4 days.

Invesco Dorsey Wright Momentum ETF Price Performance

NASDAQ PDP traded up $2.99 during trading on Friday, reaching $99.94. 21,605 shares of the company’s stock were exchanged, compared to its average volume of 20,408. The business has a 50 day moving average price of $109.81 and a 200-day moving average price of $108.08. The stock has a market capitalization of $1.23 billion, a P/E ratio of 27.62 and a beta of 1.02. Invesco Dorsey Wright Momentum ETF has a fifty-two week low of $89.93 and a fifty-two week high of $117.67.

Invesco Dorsey Wright Momentum ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 23rd were paid a $0.1344 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Hedge funds have recently added to or reduced their stakes in the business. Keener Financial Planning LLC bought a new position in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at about $27,000. Russell Investments Group Ltd. bought a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at about $32,000. GeoWealth Management LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF during the fourth quarter worth approximately $41,000. Harbour Investments Inc. boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 206.2% during the fourth quarter. Harbour Investments Inc. now owns 594 shares of the company’s stock worth $64,000 after acquiring an additional 400 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco Dorsey Wright Momentum ETF during the third quarter worth approximately $83,000.

About Invesco Dorsey Wright Momentum ETF

PowerShares DWA Technical Leaders Portfolio (the Fund) is based on the Dorsey Wright Technical Leaders Index (the Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in securities that consists of the Index and American Depositary Receipts (ADRs) based on the securities in the Index.