Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Significant Decrease in Short Interest

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 20,567 shares, a decline of 64.1% from the April 15th total of 57,245 shares. Based on an average daily volume of 22,529 shares, the short-interest ratio is presently 0.9 days. Approximately 0.2% of the company’s shares are sold short.

Invesco Dorsey Wright Momentum ETF Price Performance

NASDAQ PDP traded up $0.71 on Thursday, hitting $142.89. 23,756 shares of the stock were exchanged, compared to its average volume of 32,171. Invesco Dorsey Wright Momentum ETF has a 52-week low of $102.39 and a 52-week high of $142.95. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 28.67 and a beta of 1.18. The company’s 50-day moving average price is $129.02 and its two-hundred day moving average price is $123.74.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Invesco Dorsey Wright Momentum ETF by 3.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,125 shares of the company’s stock worth $369,000 after purchasing an additional 108 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in Invesco Dorsey Wright Momentum ETF by 0.5% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 20,230 shares of the company’s stock worth $2,388,000 after purchasing an additional 109 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 23.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 585 shares of the company’s stock valued at $68,000 after acquiring an additional 110 shares in the last quarter. Harvest Investment Services LLC grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.3% during 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 in the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 5.5% during the 4th quarter. Brookstone Capital Management now owns 2,820 shares of the company’s stock valued at $328,000 after acquiring an additional 146 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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.