Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 12-Month High – Should You Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares reached a new 52-week high on Thursday . The company traded as high as $117.67 and last traded at $117.67, with a volume of 6758 shares traded. The stock had previously closed at $117.55.

Invesco Dorsey Wright Momentum ETF Trading Up 0.6 %

The firm has a 50 day moving average of $109.32 and a two-hundred day moving average of $102.14. The stock has a market capitalization of $1.45 billion, a PE ratio of 26.00 and a beta of 1.02.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers grew its holdings in 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 valued at $2,923,000 after buying an additional 21,577 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF in the second quarter valued at $597,000. LJI Wealth Management LLC boosted its stake in shares of Invesco Dorsey Wright Momentum ETF by 2.0% during the second quarter. LJI Wealth Management LLC now owns 92,027 shares of the company’s stock valued at $9,006,000 after acquiring an additional 1,800 shares during the last quarter. NewEdge Advisors LLC boosted its stake 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 valued at $10,217,000 after acquiring an additional 17,563 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its position in Invesco Dorsey Wright Momentum ETF by 43.5% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 7,583 shares of the company’s stock worth $742,000 after purchasing an additional 2,299 shares in the last quarter.

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.