Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw strong trading volume on Friday . 46,307 shares were traded during trading, an increase of 123% from the previous session’s volume of 20,793 shares.The stock last traded at $106.33 and had previously closed at $105.66.

Invesco Dorsey Wright Momentum ETF Price Performance

The firm has a fifty day simple moving average of $99.24 and a 200 day simple moving average of $106.99. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 28.63 and a beta of 1.02.

Invesco Dorsey Wright Momentum ETF Cuts Dividend

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

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds and other institutional investors have recently modified their holdings of PDP. Raymond James Financial Inc. acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter worth $80,482,000. Summit Financial LLC acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the first quarter worth $20,490,000. LPL Financial LLC grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 52.7% in the first quarter. LPL Financial LLC now owns 354,067 shares of the company’s stock worth $35,400,000 after acquiring an additional 122,164 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 5,209.6% in the first quarter. Farther Finance Advisors LLC now owns 71,148 shares of the company’s stock worth $7,150,000 after acquiring an additional 69,808 shares during the last quarter. Finally, Win Advisors Inc. acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter worth $3,879,000.

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.