Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 12-Month High – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s stock price reached a new 52-week high on Thursday . The company traded as high as $136.25 and last traded at $136.00, with a volume of 12788 shares trading hands. The stock had previously closed at $132.53.

Invesco Dorsey Wright Momentum ETF Trading Up 3.0%

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 28.67 and a beta of 1.15. The stock has a 50-day moving average of $126.88 and a two-hundred day moving average of $122.37.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth approximately $31,000. Operose Advisors LLC acquired a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth approximately $32,000. Hilton Head Capital Partners LLC acquired a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth approximately $36,000. Kingdom Financial Group LLC. acquired a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth approximately $38,000. Finally, Root Financial Partners LLC acquired a new position in Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth approximately $39,000.

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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.