Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – What’s Next?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-high trading volume on Monday . Approximately 46,587 shares changed hands during mid-day 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 Up 0.3 %

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02. The stock has a 50 day simple moving average of $106.46 and a 200 day simple moving average of $100.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDP. International Assets Investment Management LLC bought a new position in Invesco Dorsey Wright Momentum ETF in the 2nd quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Invesco Dorsey Wright Momentum ETF during the third quarter valued at approximately $83,000. Trueblood Wealth Management LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the third quarter worth approximately $203,000. CWC Advisors LLC. bought a new position in Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth approximately $207,000. Finally, Global Assets Advisory LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF in the 3rd quarter valued at approximately $329,000.

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.