Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 52-Week High – Should You Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $108.78 and last traded at $108.64, with a volume of 2843 shares changing hands. The stock had previously closed at $105.76.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company has a market capitalization of $1.35 billion, a P/E ratio of 26.00 and a beta of 1.02. The business’s fifty day simple moving average is $102.75 and its 200-day simple moving average is $99.12.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in Invesco Dorsey Wright Momentum ETF by 269.1% during the first quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock valued at $2,923,000 after purchasing an additional 21,577 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the second quarter worth about $597,000. LJI Wealth Management LLC raised its position in Invesco Dorsey Wright Momentum ETF by 2.0% during the 2nd quarter. LJI Wealth Management LLC now owns 92,027 shares of the company’s stock worth $9,006,000 after buying an additional 1,800 shares during the last quarter. Carolinas Wealth Consulting LLC raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 43.5% during the second 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 during the last quarter. Finally, Cetera Advisors LLC grew its position in Invesco Dorsey Wright Momentum ETF by 39.9% during the 1st quarter. Cetera Advisors LLC now owns 16,288 shares of the company’s stock worth $1,609,000 after purchasing an additional 4,645 shares during the period.

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.