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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) hit a new 52-week high on Friday . The stock traded as high as $105.61 and last traded at $105.61, with a volume of 1631 shares changing hands. The stock had previously closed at $104.72.

Invesco Dorsey Wright Momentum ETF Trading Up 1.0 %

The stock has a market capitalization of $1.31 billion, a P/E ratio of 26.00 and a beta of 1.02. The business has a 50-day moving average price of $99.78 and a two-hundred day moving average price of $97.90.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds and other 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 1st quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock worth $2,923,000 after buying an additional 21,577 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in Invesco Dorsey Wright Momentum ETF in the first quarter valued at about $39,000. Global Assets Advisory LLC acquired a new position in Invesco Dorsey Wright Momentum ETF during the first quarter worth about $31,039,000. LJI Wealth Management LLC lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 2.0% in the second quarter. LJI Wealth Management LLC now owns 92,027 shares of the company’s stock worth $9,006,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Golden Road Advisors LLC acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at approximately $303,000.

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.