Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 1-Year High – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $149.40 and last traded at $148.72, with a volume of 3741 shares changing hands. The stock had previously closed at $144.25.

Invesco Dorsey Wright Momentum ETF Stock Performance

The business’s fifty day moving average is $137.07 and its 200-day moving average is $127.40. The firm has a market cap of $1.60 billion, a P/E ratio of 28.67 and a beta of 1.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PDP. Jones Financial Companies Lllp raised its holdings in Invesco Dorsey Wright Momentum ETF by 14.7% during the 1st quarter. Jones Financial Companies Lllp now owns 2,056 shares of the company’s stock worth $206,000 after purchasing an additional 264 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Invesco Dorsey Wright Momentum ETF during the 1st quarter worth approximately $775,000. Jane Street Group LLC raised its holdings in Invesco Dorsey Wright Momentum ETF by 41.2% during the 1st quarter. Jane Street Group LLC now owns 8,288 shares of the company’s stock worth $829,000 after purchasing an additional 2,418 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Invesco Dorsey Wright Momentum ETF by 10.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 11,288 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,068 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in Invesco Dorsey Wright Momentum ETF by 1.0% during the 2nd quarter. MML Investors Services LLC now owns 39,463 shares of the company’s stock worth $4,285,000 after purchasing an additional 391 shares during the last quarter.

About Invesco Dorsey Wright Momentum ETF

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.