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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw an uptick in trading volume on Thursday . 19,042 shares were traded during 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 Trading Down 3.4 %

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.29 and a beta of 1.02. The stock has a 50-day moving average price of $107.31 and a 200 day moving average price of $108.44.

Invesco Dorsey Wright Momentum ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PDP. Raymond James Financial Inc. acquired a new position in Invesco Dorsey Wright Momentum ETF during the fourth quarter worth $80,482,000. Royal Bank of Canada raised its position in shares of Invesco Dorsey Wright Momentum ETF by 1.3% during the 4th quarter. Royal Bank of Canada now owns 341,375 shares of the company’s stock worth $36,735,000 after purchasing an additional 4,276 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Invesco Dorsey Wright Momentum ETF by 3.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 181,672 shares of the company’s stock valued at $19,550,000 after buying an additional 6,302 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Invesco Dorsey Wright Momentum ETF by 0.5% in the 4th quarter. JPMorgan Chase & Co. now owns 84,464 shares of the company’s stock worth $9,089,000 after buying an additional 381 shares during the last quarter. Finally, Win Advisors Inc. purchased a new stake in Invesco Dorsey Wright Momentum ETF during the 4th quarter worth approximately $3,879,000.

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.