Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 52-Week High – What’s Next?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price reached a new 52-week high on Wednesday . The company traded as high as $129.11 and last traded at $129.1110, with a volume of 13555 shares traded. The stock had previously closed at $126.84.

Invesco Dorsey Wright Momentum ETF Stock Up 1.5%

The stock has a market capitalization of $1.41 billion, a PE ratio of 28.67 and a beta of 1.13. The stock has a fifty day moving average of $121.88 and a 200-day moving average of $117.88.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

A number of institutional investors and hedge funds have recently made changes to their positions in PDP. Northwestern Mutual Wealth Management Co. raised its holdings in Invesco Dorsey Wright Momentum ETF by 7,945.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after acquiring an additional 248,293 shares in the last quarter. Stifel Financial Corp increased its position 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 valued at $29,997,000 after purchasing an additional 39,436 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at approximately $3,136,000. &PARTNERS raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 180.0% in 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 in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Invesco Dorsey Wright Momentum ETF by 6.1% during the 4th quarter. LPL Financial LLC now owns 350,205 shares of the company’s stock worth $40,765,000 after purchasing an additional 20,250 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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.