Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Reaches New 1-Year High – Time to Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $105.61 and last traded at $105.61, with a volume of 1631 shares changing hands. The stock had previously closed at $104.72.

Invesco Dorsey Wright Momentum ETF Stock Performance

The firm has a fifty day simple moving average of $100.03 and a 200-day simple moving average of $97.95. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Several hedge funds have recently added to or reduced their stakes in PDP. Creative Planning lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 7.2% during the third quarter. Creative Planning now owns 5,921 shares of the company’s stock worth $611,000 after buying an additional 396 shares in the last quarter. Private Advisory Group LLC lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.5% during the third quarter. Private Advisory Group LLC now owns 9,650 shares of the company’s stock worth $996,000 after buying an additional 142 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF during the second quarter worth $597,000. NewEdge Advisors LLC lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 20.2% during the second quarter. NewEdge Advisors LLC now owns 104,402 shares of the company’s stock worth $10,217,000 after buying an additional 17,563 shares in the last quarter. Finally, Gateway Advisory LLC lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.9% during the second quarter. Gateway Advisory LLC now owns 213,189 shares of the company’s stock worth $20,863,000 after buying an additional 3,924 shares in the last quarter.

Invesco Dorsey Wright Momentum ETF Company Profile

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.