Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) Sees Strong Trading Volume – Should You Buy?

Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) shares saw an uptick in trading volume on Tuesday. Approximately 298,405 shares changed hands during mid-day trading, an increase of 249% from the average daily volume of 85,491 shares. The stock last traded at $49.4590 and had previously closed at $48.82.

Invesco Dorsey Wright Developed Markets Momentum ETF Stock Up 1.5%

The firm has a market cap of $599.49 million, a price-to-earnings ratio of 18.27 and a beta of 1.10. The firm has a 50 day moving average of $52.63 and a 200 day moving average of $53.40.

Invesco Dorsey Wright Developed Markets Momentum ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.51 annualized dividend and a dividend yield of 1.0%. This is a decrease from Invesco Dorsey Wright Developed Markets Momentum ETF’s previous quarterly dividend of $0.4502.

Institutional Trading of Invesco Dorsey Wright Developed Markets Momentum ETF

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Invesco Dorsey Wright Developed Markets Momentum ETF by 27.5% during the second quarter. Envestnet Asset Management Inc. now owns 360,890 shares of the company’s stock worth $18,464,000 after purchasing an additional 77,755 shares during the period. Cetera Investment Advisers grew its position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF by 96.4% in the first quarter. Cetera Investment Advisers now owns 146,141 shares of the company’s stock valued at $7,237,000 after purchasing an additional 71,727 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF in the second quarter valued at $3,429,000. Kestra Private Wealth Services LLC purchased a new position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF in the first quarter valued at $2,153,000. Finally, Royal Bank of Canada raised its stake in shares of Invesco Dorsey Wright Developed Markets Momentum ETF by 6.1% during the 1st quarter. Royal Bank of Canada now owns 612,716 shares of the company’s stock valued at $30,342,000 after purchasing an additional 35,439 shares during the period.

About Invesco Dorsey Wright Developed Markets Momentum ETF

PowerShares DWA Developed Markets Technical Leaders Portfolio (the Fund) is based on the Dorsey Wright Developed Markets Technical Leaders Index (the Index). The Fund will normally invest at least 80% of its total assets in securities of developed economies within Dorsey Wright & Associates’ classification definition, excluding the United States companies listed on the United States stock exchange. This Index includes approximately 100 companies that possess relative strength characteristics and are domiciled in developed markets including, but not limited to, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom.