Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 1-Year High – Should You Buy?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) reached a new 52-week high on Thursday . The company traded as high as $117.67 and last traded at $117.67, with a volume of 6758 shares. The stock had previously closed at $117.55.

Invesco Dorsey Wright Momentum ETF Stock Down 0.3 %

The stock has a 50 day simple moving average of $108.75 and a 200 day simple moving average of $101.90. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in Invesco Dorsey Wright Momentum ETF by 269.1% in the 1st quarter. Cetera Investment Advisers now owns 29,594 shares of the company’s stock valued at $2,923,000 after buying an additional 21,577 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Invesco Dorsey Wright Momentum ETF in the second quarter valued at approximately $597,000. LJI Wealth Management LLC grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 2.0% in the second quarter. LJI Wealth Management LLC now owns 92,027 shares of the company’s stock valued at $9,006,000 after acquiring an additional 1,800 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Invesco Dorsey Wright Momentum ETF by 20.2% during the second quarter. NewEdge Advisors LLC now owns 104,402 shares of the company’s stock valued at $10,217,000 after acquiring an additional 17,563 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its position in Invesco Dorsey Wright Momentum ETF by 43.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 7,583 shares of the company’s stock worth $742,000 after purchasing an additional 2,299 shares during the last quarter.

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.