Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 1-Year High – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $152.72 and last traded at $152.40, with a volume of 2474 shares trading hands. The stock had previously closed at $148.99.

Invesco Dorsey Wright Momentum ETF Stock Performance

The business has a fifty day simple moving average of $140.38 and a 200 day simple moving average of $129.07. The company has a market cap of $1.60 billion, a P/E ratio of 28.67 and a beta of 1.17.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after purchasing an additional 248,293 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 47.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 151,288 shares of the company’s stock worth $17,611,000 after purchasing an additional 48,895 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 18.1% in the 4th quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock worth $29,997,000 after purchasing an additional 39,436 shares during the last quarter. &PARTNERS boosted its position in Invesco Dorsey Wright Momentum ETF by 180.0% during the 4th quarter. &PARTNERS now owns 41,800 shares of the company’s stock valued at $4,866,000 after purchasing an additional 26,869 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at approximately $2,699,000.

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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.