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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $126.09 and last traded at $124.5490, with a volume of 5552 shares trading hands. The stock had previously closed at $124.85.

Invesco Dorsey Wright Momentum ETF Trading Up 0.1%

The firm has a 50-day moving average of $118.08 and a two-hundred day moving average of $116.00. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds have recently modified their holdings of PDP. Realta Investment Advisors raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 2.0% during the third quarter. Realta Investment Advisors now owns 4,631 shares of the company’s stock worth $547,000 after acquiring an additional 90 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Invesco Dorsey Wright Momentum ETF by 3.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,125 shares of the company’s stock valued at $369,000 after purchasing an additional 108 shares during the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 0.5% in the third quarter. Capital Investment Advisory Services LLC now owns 20,230 shares of the company’s stock valued at $2,388,000 after buying an additional 109 shares in the last quarter. Harvest Investment Services LLC grew its position in shares of Invesco Dorsey Wright Momentum ETF by 1.3% in the 3rd quarter. Harvest Investment Services LLC now owns 9,523 shares of the company’s stock valued at $1,124,000 after acquiring an additional 126 shares during the period. Finally, Brookstone Capital Management increased its position in Invesco Dorsey Wright Momentum ETF by 5.5% during the fourth quarter. Brookstone Capital Management now owns 2,820 shares of the company’s stock worth $328,000 after buying an additional 146 shares during 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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.