Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Shares Gap Down – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares gapped down prior to trading on Tuesday . The stock had previously closed at $115.59, but opened at $111.51. Invesco Dorsey Wright Momentum ETF shares last traded at $111.10, with a volume of 21,492 shares trading hands.

Invesco Dorsey Wright Momentum ETF Trading Down 0.0 %

The stock’s 50-day moving average price is $112.30 and its two-hundred day moving average price is $105.66. The stock has a market capitalization of $1.37 billion, a P/E ratio of 26.00 and a beta of 1.02.

Invesco Dorsey Wright Momentum ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 23rd were given a $0.1344 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Invesco Dorsey Wright Momentum ETF in the third quarter valued at approximately $83,000. Silver Oak Securities Incorporated grew its stake in Invesco Dorsey Wright Momentum ETF by 468.6% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,177 shares of the company’s stock valued at $128,000 after acquiring an additional 970 shares in the last quarter. Affinity Wealth Management LLC bought a new stake in Invesco Dorsey Wright Momentum ETF during the 4th quarter worth approximately $200,000. Finally, Trueblood Wealth Management LLC bought a new stake in Invesco Dorsey Wright Momentum ETF during the 3rd quarter worth approximately $203,000.

About Invesco Dorsey Wright Momentum ETF

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.