Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) Reaches New 52-Week High – Should You Buy?

Invesco Dorsey Wright Developed Markets Momentum ETF (NASDAQ:PIZ) reached a new 52-week high during trading on Monday . The stock traded as high as $55.02 and last traded at $54.8450, with a volume of 3289 shares changing hands. The stock had previously closed at $54.58.

Invesco Dorsey Wright Developed Markets Momentum ETF Price Performance

The stock has a market capitalization of $606.60 million, a P/E ratio of 18.27 and a beta of 1.05. The stock has a fifty day moving average price of $51.39 and a 200 day moving average price of $48.78.

Invesco Dorsey Wright Developed Markets Momentum ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were given a dividend of $0.2028 per share. This is an increase from Invesco Dorsey Wright Developed Markets Momentum ETF’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, December 22nd. This represents a $0.81 dividend on an annualized basis and a dividend yield of 1.5%.

Institutional Investors Weigh In On Invesco Dorsey Wright Developed Markets Momentum ETF

A number of institutional investors and hedge funds have recently made changes to their positions in PIZ. Royal Bank of Canada raised its position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF by 27.1% during the 1st quarter. Royal Bank of Canada now owns 217,141 shares of the company’s stock valued at $8,268,000 after buying an additional 46,322 shares in the last quarter. Jane Street Group LLC lifted its holdings in Invesco Dorsey Wright Developed Markets Momentum ETF by 129.5% in the 1st quarter. Jane Street Group LLC now owns 40,053 shares of the company’s stock worth $1,525,000 after buying an additional 22,603 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Invesco Dorsey Wright Developed Markets Momentum ETF by 269.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 48,836 shares of the company’s stock worth $2,244,000 after buying an additional 35,618 shares during the last quarter. Spire Wealth Management purchased a new position in Invesco Dorsey Wright Developed Markets Momentum ETF during the 2nd quarter valued at $79,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in Invesco Dorsey Wright Developed Markets Momentum ETF during the 2nd quarter valued at $13,516,000.

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.