Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ:PSL) Stock Price Up 1.9% – Here’s Why

Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ:PSL) shares were up 1.9% during mid-day trading on Thursday. The stock traded as high as $110.55 and last traded at $110.38. Approximately 3,358 shares changed hands during mid-day trading, an increase of 89% from the average session volume of 1,777 shares. The stock had previously closed at $108.31.

Invesco Dorsey Wright Consumer Staples Momentum ETF Price Performance

The business has a 50 day simple moving average of $112.15 and a 200 day simple moving average of $111.52. The company has a market cap of $79.47 million, a price-to-earnings ratio of 18.50 and a beta of 0.65.

Invesco Dorsey Wright Consumer Staples Momentum ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Monday, September 21st were given a dividend of $0.1652 per share. This is a negative change from Invesco Dorsey Wright Consumer Staples Momentum ETF’s previous quarterly dividend of $0.1933. The ex-dividend date was Monday, September 21st. This represents a $0.66 annualized dividend and a yield of 0.6%.

Institutional Investors Weigh In On Invesco Dorsey Wright Consumer Staples Momentum ETF

A number of hedge funds have recently added to or reduced their stakes in PSL. Compass Financial Management LLC bought a new position in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF in the second quarter worth about $30,000. IMC Chicago LLC grew its stake in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF by 71.3% during the first quarter. IMC Chicago LLC now owns 72,244 shares of the company’s stock valued at $7,842,000 after purchasing an additional 30,081 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF during the first quarter valued at approximately $230,000. Finally, Maltin Wealth Management Inc. increased its holdings in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF by 82.1% in the first quarter. Maltin Wealth Management Inc. now owns 13,205 shares of the company’s stock valued at $1,433,000 after purchasing an additional 5,954 shares in the last quarter.

Invesco Dorsey Wright Consumer Staples Momentum ETF Company Profile

PowerShares Dynamic Consumer Staples Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Consumer Staples Sector Intellidex Index (the Index). The Fund will normally invest at least 80% of its total assets in common stocks of consumer staples companies. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index consists of stocks of 60 United States consumer staples companies. These are companies that are principally engaged in the businesses of providing consumer goods and services that have non-cyclical characteristics, including tobacco, textiles, food and beverage, and non-discretionary retail.