Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Stock Price Down 0.9% – Here’s Why

Shares of Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) dropped 0.9% during trading on Tuesday . The company traded as low as $130.91 and last traded at $130.94. Approximately 764 shares traded hands during trading, a decline of 86% from the average daily volume of 5,562 shares. The stock had previously closed at $132.14.

Invesco Dorsey Wright Basic Materials Momentum ETF Price Performance

The stock’s 50-day simple moving average is $127.68 and its 200 day simple moving average is $122.61. The stock has a market capitalization of $104.75 million, a P/E ratio of 19.97 and a beta of 1.24.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Investors Weigh In On Invesco Dorsey Wright Basic Materials Momentum ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth $31,000. Sound Income Strategies LLC acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth $33,000. Raymond James Financial Inc. acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the second quarter worth $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth $74,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF during the fourth quarter worth $79,000.

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.