Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 12-Month Low – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price reached a new 52-week low on Monday . The stock traded as low as $86.41 and last traded at $89.56, with a volume of 44464 shares. The stock had previously closed at $90.69.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of 28.29 and a beta of 1.02. The stock’s fifty day moving average price is $104.48 and its 200-day moving average price is $107.96.

Invesco Dorsey Wright Momentum ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were paid a $0.0458 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PDP. Stratos Wealth Partners LTD. lifted its holdings in Invesco Dorsey Wright Momentum ETF by 8.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,376 shares of the company’s stock valued at $579,000 after purchasing an additional 406 shares during the last quarter. FMR LLC boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 10.7% during the 3rd quarter. FMR LLC now owns 6,953 shares of the company’s stock worth $718,000 after buying an additional 671 shares during the period. JPMorgan Chase & Co. raised its holdings in Invesco Dorsey Wright Momentum ETF by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,083 shares of the company’s stock valued at $8,682,000 after acquiring an additional 329 shares during the period. HighTower Advisors LLC lifted its position in Invesco Dorsey Wright Momentum ETF by 3.5% during the third quarter. HighTower Advisors LLC now owns 3,966 shares of the company’s stock worth $410,000 after acquiring an additional 133 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 124.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,792 shares of the company’s stock worth $193,000 after acquiring an additional 995 shares during the period.

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.