Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – Should You Buy?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-strong trading volume on Wednesday . Approximately 31,773 shares traded hands during trading, an increase of 57% from the previous session’s volume of 20,188 shares.The stock last traded at $98.98 and had previously closed at $97.83.

Invesco Dorsey Wright Momentum ETF Price Performance

The firm has a market cap of $1.20 billion, a PE ratio of 27.62 and a beta of 1.11. The business’s fifty day moving average is $110.20 and its 200-day moving average is $108.22.

Invesco Dorsey Wright Momentum ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.1344 per share. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several institutional investors have recently bought and sold shares of PDP. Raymond James Financial Inc. bought a new stake in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at $80,482,000. Win Advisors Inc. purchased a new stake in Invesco Dorsey Wright Momentum ETF in the 4th quarter worth about $3,879,000. Financial Management Professionals Inc. bought a new stake in Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at about $2,430,000. Global Retirement Partners LLC lifted its holdings in Invesco Dorsey Wright Momentum ETF by 9,603.2% during the fourth quarter. Global Retirement Partners LLC now owns 17,951 shares of the company’s stock valued at $1,932,000 after purchasing an additional 17,766 shares during the last quarter. Finally, Kelly Financial Group LLC bought a new position in Invesco Dorsey Wright Momentum ETF during the fourth quarter worth about $1,863,000.

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.