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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw strong trading volume on Monday . 46,587 shares changed hands during trading, an increase of 128% from the previous session’s volume of 20,457 shares.The stock last traded at $115.95 and had previously closed at $115.75.

Invesco Dorsey Wright Momentum ETF Stock Performance

The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02. The stock’s 50 day simple moving average is $107.08 and its 200-day simple moving average is $101.11.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PDP. Cetera Investment Advisers raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 269.1% during the first quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock worth $2,923,000 after purchasing an additional 21,577 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 20.2% during the second quarter. NewEdge Advisors LLC now owns 104,402 shares of the company’s stock worth $10,217,000 after purchasing an additional 17,563 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Invesco Dorsey Wright Momentum ETF during the third quarter worth $1,102,000. Raymond James & Associates raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.4% during the third quarter. Raymond James & Associates now owns 595,138 shares of the company’s stock worth $61,454,000 after purchasing an additional 7,932 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF during the second quarter worth $597,000.

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.