Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw an uptick in trading volume on Friday . 47,427 shares were traded during trading, an increase of 50% from the previous session’s volume of 31,594 shares.The stock last traded at $133.59 and had previously closed at $131.41.

Invesco Dorsey Wright Momentum ETF Stock Up 1.8%

The firm has a fifty day moving average of $125.55 and a 200-day moving average of $121.40. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 28.67 and a beta of 1.15.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of PDP. Jones Financial Companies Lllp increased its position in Invesco Dorsey Wright Momentum ETF by 14.7% during the first quarter. Jones Financial Companies Lllp now owns 2,056 shares of the company’s stock worth $206,000 after buying an additional 264 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Invesco Dorsey Wright Momentum ETF during the first quarter worth $775,000. Jane Street Group LLC increased its position in Invesco Dorsey Wright Momentum ETF by 41.2% during the first quarter. Jane Street Group LLC now owns 8,288 shares of the company’s stock worth $829,000 after buying an additional 2,418 shares in the last quarter. Benjamin Edwards Inc. increased its position in Invesco Dorsey Wright Momentum ETF by 10.5% during the second quarter. Benjamin Edwards Inc. now owns 11,288 shares of the company’s stock worth $1,226,000 after buying an additional 1,068 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Invesco Dorsey Wright Momentum ETF by 1.0% during the second quarter. MML Investors Services LLC now owns 39,463 shares of the company’s stock worth $4,285,000 after buying an additional 391 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.