Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Large Volume Increase – Should You Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw strong trading volume on Thursday . 19,042 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 20,514 shares.The stock last traded at $97.48 and had previously closed at $101.68.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company has a market capitalization of $1.37 billion, a PE ratio of 28.29 and a beta of 1.02. The stock has a fifty day moving average of $106.43 and a 200 day moving average of $108.29.

Invesco Dorsey Wright Momentum ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a dividend of $0.0458 per share. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

Several hedge funds have recently bought and sold shares of the stock. Keener Financial Planning LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF during the fourth quarter valued at about $27,000. Russell Investments Group Ltd. purchased a new position in Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at approximately $32,000. GeoWealth Management LLC bought a new stake in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth approximately $41,000. Harbour Investments Inc. raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 206.2% during the 4th quarter. Harbour Investments Inc. now owns 594 shares of the company’s stock worth $64,000 after acquiring an additional 400 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF during the 3rd 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.