Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Large Decline in Short Interest

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 14,000 shares, a drop of 16.7% from the March 15th total of 16,800 shares. Based on an average trading volume of 25,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s stock are sold short.

Invesco Dorsey Wright Momentum ETF Price Performance

Shares of NASDAQ:PDP opened at $93.47 on Tuesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 26.73 and a beta of 1.02. The business has a 50-day moving average of $101.54 and a two-hundred day moving average of $107.56. Invesco Dorsey Wright Momentum ETF has a fifty-two week low of $86.41 and a fifty-two week high of $117.67.

Invesco Dorsey Wright Momentum ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were given a dividend of $0.0458 per share. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Invesco Dorsey Wright Momentum ETF by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,271 shares of the company’s stock valued at $10,125,000 after buying an additional 14,685 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Invesco Dorsey Wright Momentum ETF by 5,209.6% during the 1st quarter. Farther Finance Advisors LLC now owns 71,148 shares of the company’s stock worth $7,150,000 after purchasing an additional 69,808 shares during the last quarter. Sovereign Financial Group Inc. boosted its stake in Invesco Dorsey Wright Momentum ETF by 1.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 16,982 shares of the company’s stock valued at $1,698,000 after purchasing an additional 222 shares during the period. Affinity Wealth Management LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 10.4% in the 1st quarter. Affinity Wealth Management LLC now owns 2,057 shares of the company’s stock valued at $206,000 after buying an additional 194 shares during the last quarter. Finally, Signal Advisors Wealth LLC bought a new position in Invesco Dorsey Wright Momentum ETF in the 1st quarter worth approximately $356,000.

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.