Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) Sees Strong Trading Volume – Still a Buy?

Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) shares saw unusually-high trading volume on Tuesday . Approximately 25,394 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 26,932 shares.The stock last traded at $226.15 and had previously closed at $237.87.

Invesco Dorsey Wright Industrials Momentum ETF Stock Down 4.3%

The stock’s 50-day moving average price is $242.26 and its 200-day moving average price is $213.73. The company has a market capitalization of $562.17 million, a price-to-earnings ratio of 28.33 and a beta of 1.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Invesco Dorsey Wright Industrials Momentum ETF by 68.5% during the fourth quarter. Private Advisor Group LLC now owns 21,185 shares of the company’s stock worth $3,698,000 after acquiring an additional 8,614 shares during the last quarter. Paller Financial Services Inc acquired a new stake in Invesco Dorsey Wright Industrials Momentum ETF in the fourth quarter worth about $3,489,000. Stratos Wealth Partners LTD. increased its position in Invesco Dorsey Wright Industrials Momentum ETF by 32.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 16,764 shares of the company’s stock worth $2,927,000 after purchasing an additional 4,097 shares during the period. MML Investors Services LLC raised its holdings in Invesco Dorsey Wright Industrials Momentum ETF by 10.2% during the 4th quarter. MML Investors Services LLC now owns 14,311 shares of the company’s stock worth $2,498,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in Invesco Dorsey Wright Industrials Momentum ETF by 19.0% during the 4th quarter. Principal Securities Inc. now owns 14,224 shares of the company’s stock worth $2,483,000 after purchasing an additional 2,274 shares during the last quarter.

About Invesco Dorsey Wright Industrials Momentum ETF

PowerShares Dynamic Industrials Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Industrials Sector Intellidex Index (the Index). The Index consists of stocks of 60 United States industrial companies. These are companies that are principally engaged in the business of providing industrial products and services, including engineering, heavy machinery, construction, electrical equipment, aerospace and defense, and general manufacturing.