Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw strong trading volume on Wednesday . 103,118 shares changed hands during trading, an increase of 388% from the previous session’s volume of 21,132 shares.The stock last traded at $111.8360 and had previously closed at $111.21.

Invesco Dorsey Wright Momentum ETF Stock Up 1.1%

The business’s fifty day moving average is $117.99 and its 200-day moving average is $111.81. The stock has a market capitalization of $1.27 billion, a PE ratio of 28.67 and a beta of 1.13.

Invesco Dorsey Wright Momentum ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Monday, September 22nd were issued a $0.1134 dividend. The ex-dividend date was Monday, September 22nd. This is an increase from Invesco Dorsey Wright Momentum ETF’s previous quarterly dividend of $0.04. This represents a $0.45 dividend on an annualized basis and a yield of 0.4%.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

A number of hedge funds have recently made changes to their positions in the company. Red Tortoise LLC purchased a new position in Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth about $39,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 375.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 475 shares of the company’s stock valued at $57,000 after buying an additional 375 shares during the period. Costello Asset Management INC acquired a new stake in Invesco Dorsey Wright Momentum ETF during the first quarter worth about $63,000. Finally, WealthShield Partners LLC acquired a new position in Invesco Dorsey Wright Momentum ETF in the first quarter valued at approximately $70,000.

Invesco Dorsey Wright Momentum ETF Company Profile

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.