Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $119.91 and traded as high as $125.08. Invesco Dorsey Wright Momentum ETF shares last traded at $122.18, with a volume of 11,671 shares.

Invesco Dorsey Wright Momentum ETF Price Performance

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13. The firm’s fifty day moving average price is $119.91 and its 200-day moving average price is $116.70.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

A number of hedge funds have recently made changes to their positions in PDP. Red Tortoise LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF in the second quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF during the 3rd quarter worth approximately $39,000. Networth Advisors LLC bought a new stake in Invesco Dorsey Wright Momentum ETF during the 4th quarter worth approximately $42,000. Capital Investment Counsel Inc acquired a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at approximately $46,000. Finally, Hazlett Burt & Watson Inc. increased its position in Invesco Dorsey Wright Momentum ETF by 375.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 475 shares of the company’s stock valued at $57,000 after acquiring an additional 375 shares during the period.

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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.