Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 52-Week High – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $126.39 and last traded at $126.9690, with a volume of 1580 shares trading hands. The stock had previously closed at $125.64.

Invesco Dorsey Wright Momentum ETF Stock Performance

The stock has a 50 day moving average of $120.67 and a 200-day moving average of $117.21. The company has a market cap of $1.40 billion, a PE ratio of 28.67 and a beta of 1.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PDP. Commonwealth Equity Services LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 386,437 shares of the company’s stock valued at $45,621,000 after buying an additional 10,409 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock worth $29,265,000 after purchasing an additional 248,293 shares in the last quarter. UBS Group AG lifted its holdings in Invesco Dorsey Wright Momentum ETF by 8.7% during the 4th quarter. UBS Group AG now owns 192,339 shares of the company’s stock worth $22,389,000 after buying an additional 15,323 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of Invesco Dorsey Wright Momentum ETF by 1.1% in the 2nd quarter. Prospera Financial Services Inc now owns 178,693 shares of the company’s stock valued at $19,404,000 after buying an additional 1,953 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Invesco Dorsey Wright Momentum ETF by 12.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 111,400 shares of the company’s stock valued at $13,295,000 after purchasing an additional 12,163 shares during 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.