Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 52-Week High – Still a Buy?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) hit a new 52-week high on Thursday . The stock traded as high as $114.52 and last traded at $114.45, with a volume of 9333 shares traded. The stock had previously closed at $112.64.

Invesco Dorsey Wright Momentum ETF Trading Up 1.5 %

The company has a fifty day moving average of $105.84 and a 200-day moving average of $100.52. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

Hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in Invesco Dorsey Wright Momentum ETF by 269.1% in the 1st quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock valued at $2,923,000 after buying an additional 21,577 shares during the period. NewEdge Advisors LLC boosted its position in shares of Invesco Dorsey Wright Momentum ETF by 20.2% in the 2nd quarter. NewEdge Advisors LLC now owns 104,402 shares of the company’s stock worth $10,217,000 after buying an additional 17,563 shares in the last quarter. Waverly Advisors LLC lifted its holdings in Invesco Dorsey Wright Momentum ETF by 234.0% in the 1st quarter. Waverly Advisors LLC now owns 20,242 shares of the company’s stock valued at $1,999,000 after purchasing an additional 14,181 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Invesco Dorsey Wright Momentum ETF in the 3rd quarter valued at about $1,102,000. Finally, Raymond James & Associates lifted its holdings in Invesco Dorsey Wright Momentum ETF by 1.4% in the 3rd quarter. Raymond James & Associates now owns 595,138 shares of the company’s stock valued at $61,454,000 after purchasing an additional 7,932 shares in the last quarter.

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.