Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 12-Month High – Time to Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price reached a new 52-week high on Thursday . The company traded as high as $126.09 and last traded at $124.5490, with a volume of 5552 shares. The stock had previously closed at $124.85.

Invesco Dorsey Wright Momentum ETF Stock Performance

The stock has a market cap of $1.36 billion, a P/E ratio of 28.67 and a beta of 1.13. The stock’s fifty day moving average is $118.51 and its 200 day moving average is $116.16.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several large investors have recently modified their holdings of PDP. Realta Investment Advisors boosted its position in Invesco Dorsey Wright Momentum ETF by 2.0% during the third quarter. Realta Investment Advisors now owns 4,631 shares of the company’s stock worth $547,000 after acquiring an additional 90 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 3.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,125 shares of the company’s stock worth $369,000 after purchasing an additional 108 shares during the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Invesco Dorsey Wright Momentum ETF by 0.5% in the third quarter. Capital Investment Advisory Services LLC now owns 20,230 shares of the company’s stock valued at $2,388,000 after purchasing an additional 109 shares during the last quarter. Harvest Investment Services LLC lifted its position in Invesco Dorsey Wright Momentum ETF by 1.3% during the third quarter. Harvest Investment Services LLC now owns 9,523 shares of the company’s stock worth $1,124,000 after buying an additional 126 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in Invesco Dorsey Wright Momentum ETF by 5.5% during the fourth quarter. Brookstone Capital Management now owns 2,820 shares of the company’s stock worth $328,000 after buying an additional 146 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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.