Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) Sees Large Volume Increase – Still a Buy?

Shares of Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) saw strong trading volume on Wednesday. 99,780 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 87,424 shares. The stock last traded at $51.2070 and had previously closed at $52.46.

Invesco Dorsey Wright Developed Markets Momentum ETF Stock Down 1.3%

The firm has a fifty day moving average price of $53.37 and a two-hundred day moving average price of $54.10. The stock has a market capitalization of $632.34 million, a P/E ratio of 18.27 and a beta of 1.10.

Invesco Dorsey Wright Developed Markets Momentum ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were paid a dividend of $0.1275 per share. The ex-dividend date was Monday, September 21st. This represents a $0.51 dividend on an annualized basis and a yield of 1.0%. This is a decrease from Invesco Dorsey Wright Developed Markets Momentum ETF’s previous quarterly dividend of $0.4502.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PIZ. Envestnet Asset Management Inc. increased its position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF by 27.5% during the second quarter. Envestnet Asset Management Inc. now owns 360,890 shares of the company’s stock valued at $18,464,000 after acquiring an additional 77,755 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Invesco Dorsey Wright Developed Markets Momentum ETF in the 2nd quarter valued at approximately $309,000. Lunt Capital Management Inc. bought a new position in Invesco Dorsey Wright Developed Markets Momentum ETF in the 2nd quarter valued at approximately $771,000. Integrated Wealth Concepts LLC purchased a new stake in Invesco Dorsey Wright Developed Markets Momentum ETF during the 2nd quarter valued at $448,000. Finally, NewEdge Advisors LLC boosted its stake in Invesco Dorsey Wright Developed Markets Momentum ETF by 35.6% during the 2nd quarter. NewEdge Advisors LLC now owns 44,925 shares of the company’s stock valued at $2,317,000 after purchasing an additional 11,797 shares during the last quarter.

Invesco Dorsey Wright Developed Markets Momentum ETF Company Profile

PowerShares DWA Developed Markets Technical Leaders Portfolio (the Fund) is based on the Dorsey Wright Developed Markets Technical Leaders Index (the Index). The Fund will normally invest at least 80% of its total assets in securities of developed economies within Dorsey Wright & Associates’ classification definition, excluding the United States companies listed on the United States stock exchange. This Index includes approximately 100 companies that possess relative strength characteristics and are domiciled in developed markets including, but not limited to, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom.