Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 12-Month High – What’s Next?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) hit a new 52-week high on Friday . The company traded as high as $104.23 and last traded at $103.83, with a volume of 486 shares traded. The stock had previously closed at $103.11.

Invesco Dorsey Wright Momentum ETF Stock Performance

The stock’s 50 day simple moving average is $99.04 and its 200-day simple moving average is $97.67. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 26.00 and a beta of 1.02.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF in the second quarter valued at approximately $26,000. Carolina Wealth Advisors LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the first quarter worth $39,000. Trueblood Wealth Management LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF in the first quarter valued at $204,000. Delta Investment Management LLC bought a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter valued at approximately $204,000. Finally, Shilanski & Associates Inc. acquired a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter valued at about $219,000.

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.