Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Unusually-High Trading Volume – Time to Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-high trading volume on Monday . Approximately 46,587 shares traded hands during mid-day trading, an increase of 128% from the previous session’s volume of 20,457 shares.The stock last traded at $115.95 and had previously closed at $115.75.

Invesco Dorsey Wright Momentum ETF Price Performance

The business’s fifty day simple moving average is $107.08 and its two-hundred day simple moving average is $101.11. The company has a market cap of $1.43 billion, a PE ratio of 26.00 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Invesco Dorsey Wright Momentum ETF by 1.4% in the third quarter. Raymond James & Associates now owns 595,138 shares of the company’s stock valued at $61,454,000 after purchasing an additional 7,932 shares during the period. Gateway Advisory LLC grew its position in shares of Invesco Dorsey Wright Momentum ETF by 1.9% in the second quarter. Gateway Advisory LLC now owns 213,189 shares of the company’s stock valued at $20,863,000 after purchasing an additional 3,924 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Invesco Dorsey Wright Momentum ETF by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 175,370 shares of the company’s stock valued at $18,109,000 after purchasing an additional 886 shares during the period. NewEdge Advisors LLC grew its position in shares of Invesco Dorsey Wright Momentum ETF by 20.2% in the second quarter. NewEdge Advisors LLC now owns 104,402 shares of the company’s stock valued at $10,217,000 after purchasing an additional 17,563 shares during the period. Finally, LJI Wealth Management LLC grew its position in shares of Invesco Dorsey Wright Momentum ETF by 0.6% in the third quarter. LJI Wealth Management LLC now owns 92,610 shares of the company’s stock valued at $9,563,000 after purchasing an additional 583 shares during the period.

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.