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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw unusually-high trading volume on Thursday. Approximately 143,465 shares traded hands during trading, an increase of 439% from the average daily volume of 26,638 shares. The stock last traded at $131.13 and had previously closed at $131.64.

Invesco Dorsey Wright Momentum ETF Stock Performance

The firm has a market cap of $1.38 billion, a PE ratio of 21.70 and a beta of 1.16. The firm’s 50-day moving average price is $135.27 and its two-hundred day moving average price is $134.63.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Invesco Dorsey Wright Momentum ETF by 0.7% in the third quarter. Farther Finance Advisors LLC now owns 27,434 shares of the company’s stock valued at $3,781,000 after acquiring an additional 186 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 3rd quarter valued at about $28,000. Focus Financial Network Inc. lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 2.7% in the 2nd quarter. Focus Financial Network Inc. now owns 7,541 shares of the company’s stock valued at $1,144,000 after purchasing an additional 201 shares during the last quarter. Montgomery Financial Services LLC acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at about $33,000. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Invesco Dorsey Wright Momentum ETF by 15.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,187 shares of the company’s stock valued at $332,000 after purchasing an additional 290 shares during the period.

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.