Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) saw unusually-high trading volume on Tuesday. 298,405 shares traded hands during trading, an increase of 249% from the average daily volume of 85,491 shares. The stock last traded at $49.4590 and had previously closed at $48.82.

Invesco Dorsey Wright Developed Markets Momentum ETF Price Performance

The company has a 50 day moving average of $52.63 and a 200-day moving average of $53.40. The company has a market cap of $599.49 million, a P/E ratio of 18.27 and a beta of 1.10.

Invesco Dorsey Wright Developed Markets Momentum ETF Cuts Dividend

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

Institutional Trading of Invesco Dorsey Wright Developed Markets Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of PIZ. Kingswood Wealth Advisors LLC bought a new stake in Invesco Dorsey Wright Developed Markets Momentum ETF in the 3rd quarter worth $215,000. Redstone Wealth Management LLC increased its holdings in Invesco Dorsey Wright Developed Markets Momentum ETF by 4.8% during the 3rd quarter. Redstone Wealth Management LLC now owns 88,782 shares of the company’s stock valued at $4,709,000 after purchasing an additional 4,070 shares during the period. IFP Advisors Inc increased its holdings in Invesco Dorsey Wright Developed Markets Momentum ETF by 276.1% during the 3rd quarter. IFP Advisors Inc now owns 28,455 shares of the company’s stock valued at $1,509,000 after purchasing an additional 20,890 shares during the period. Envestnet Asset Management Inc. raised its position in Invesco Dorsey Wright Developed Markets Momentum ETF by 27.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 360,890 shares of the company’s stock valued at $18,464,000 after purchasing an additional 77,755 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Invesco Dorsey Wright Developed Markets Momentum ETF during the 2nd quarter valued at approximately $309,000.

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.