Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Shares Up 2.5% – Here’s Why

Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ)’s stock price shot up 2.5% on Tuesday . The company traded as high as $129.99 and last traded at $129.73. 2,229 shares were traded during mid-day trading, a decline of 64% from the average session volume of 6,244 shares. The stock had previously closed at $126.54.

Invesco Dorsey Wright Basic Materials Momentum ETF Stock Up 2.5%

The stock’s 50 day moving average is $123.84 and its two-hundred day moving average is $119.68. The company has a market capitalization of $103.78 million, a PE ratio of 19.97 and a beta of 1.25.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a dividend of $0.1193 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Trading of Invesco Dorsey Wright Basic Materials Momentum ETF

Several hedge funds have recently modified their holdings of PYZ. Transamerica Financial Advisors LLC lifted its position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF by 68,339.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 118,401 shares of the company’s stock valued at $13,043,000 after buying an additional 118,228 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter valued at about $4,692,000. Susquehanna International Group LLP purchased a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the third quarter valued at about $547,000. Advisory Services Network LLC purchased a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter valued at about $437,000. Finally, LPL Financial LLC lifted its position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF by 24.2% during the fourth quarter. LPL Financial LLC now owns 17,218 shares of the company’s stock valued at $1,897,000 after buying an additional 3,353 shares during the last quarter.

About Invesco Dorsey Wright Basic Materials Momentum ETF

The Invesco DWA Basic Materials Momentum ETF (PYZ) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an index of US basic materials firms selected and weighted by price momentum. PYZ was launched on Oct 12, 2006 and is managed by Invesco.