Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 52-Week High – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $114.52 and last traded at $114.45, with a volume of 9333 shares trading hands. The stock had previously closed at $112.64.

Invesco Dorsey Wright Momentum ETF Stock Performance

The stock has a 50-day moving average price of $105.84 and a 200-day moving average price of $100.52. The stock has a market cap of $1.41 billion, a P/E ratio of 26.00 and a beta of 1.02.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Waverly Advisors LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 234.0% during the first quarter. Waverly Advisors LLC now owns 20,242 shares of the company’s stock valued at $1,999,000 after purchasing an additional 14,181 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 4.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 30,618 shares of the company’s stock worth $3,024,000 after buying an additional 1,199 shares during the period. Cetera Investment Advisers boosted its stake in shares of Invesco Dorsey Wright Momentum ETF by 269.1% during the first quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock valued at $2,923,000 after purchasing an additional 21,577 shares during the period. Cetera Advisors LLC increased its position in shares of Invesco Dorsey Wright Momentum ETF by 39.9% during the first quarter. Cetera Advisors LLC now owns 16,288 shares of the company’s stock worth $1,609,000 after acquiring an additional 4,645 shares during the period. Finally, Arkadios Wealth Advisors raised its position in Invesco Dorsey Wright Momentum ETF by 90.3% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,811 shares of the company’s stock valued at $471,000 after purchasing an additional 2,283 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.