Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $58.73 and traded as high as $58.99. Invesco Dorsey Wright Financial Momentum ETF shares last traded at $58.9860, with a volume of 518 shares traded.

Invesco Dorsey Wright Financial Momentum ETF Stock Performance

The stock has a 50-day moving average of $58.92 and a 200 day moving average of $58.73. The firm has a market capitalization of $49.55 million, a P/E ratio of 13.32 and a beta of 1.00.

Hedge Funds Weigh In On Invesco Dorsey Wright Financial Momentum ETF

A number of institutional investors and hedge funds have recently bought and sold shares of PFI. HighTower Advisors LLC acquired a new stake in shares of Invesco Dorsey Wright Financial Momentum ETF in the third quarter valued at $248,000. Asset Dedication LLC bought a new position in shares of Invesco Dorsey Wright Financial Momentum ETF in the third quarter valued at about $345,000. Kingswood Wealth Advisors LLC bought a new position in shares of Invesco Dorsey Wright Financial Momentum ETF in the third quarter valued at about $243,000. Genesee Capital Advisors LLC bought a new position in shares of Invesco Dorsey Wright Financial Momentum ETF in the third quarter valued at about $470,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Invesco Dorsey Wright Financial Momentum ETF in the second quarter valued at about $46,000.

About Invesco Dorsey Wright Financial Momentum ETF

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.