Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 52-Week High – What’s Next?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $129.11 and last traded at $129.1110, with a volume of 13555 shares changing hands. The stock had previously closed at $126.84.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company has a market capitalization of $1.41 billion, a PE ratio of 28.67 and a beta of 1.13. The firm’s 50-day simple moving average is $121.88 and its 200 day simple moving average is $117.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of 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 acquiring an additional 264 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Invesco Dorsey Wright Momentum ETF during the first quarter worth $775,000. Jane Street Group LLC raised its holdings 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 purchasing an additional 2,418 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Invesco Dorsey Wright Momentum ETF by 8.4% during the second quarter. Stratos Wealth Partners LTD. now owns 4,790 shares of the company’s stock worth $520,000 after purchasing an additional 370 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in Invesco Dorsey Wright Momentum ETF by 20.7% during the second quarter. Stephens Inc. AR now owns 9,855 shares of the company’s stock worth $1,070,000 after purchasing an additional 1,693 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.