Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-strong trading volume on Friday . Approximately 56,387 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 27,915 shares.The stock last traded at $120.36 and had previously closed at $123.07.

Invesco Dorsey Wright Momentum ETF Price Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13. The business has a fifty day moving average price of $125.02 and a 200 day moving average price of $120.11.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Several large investors have recently bought and sold shares of the stock. Realta Investment Advisors boosted its holdings in Invesco Dorsey Wright Momentum ETF by 2.0% in the 3rd quarter. Realta Investment Advisors now owns 4,631 shares of the company’s stock valued at $547,000 after purchasing an additional 90 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco Dorsey Wright Momentum ETF by 3.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,125 shares of the company’s stock worth $369,000 after purchasing an additional 108 shares during the period. Capital Investment Advisory Services LLC raised its position in shares of Invesco Dorsey Wright Momentum ETF by 0.5% during the third quarter. Capital Investment Advisory Services LLC now owns 20,230 shares of the company’s stock valued at $2,388,000 after buying an additional 109 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Invesco Dorsey Wright Momentum ETF by 23.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 585 shares of the company’s stock valued at $68,000 after buying an additional 110 shares during the last quarter. Finally, Harvest Investment Services LLC lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 1.3% in the third quarter. Harvest Investment Services LLC now owns 9,523 shares of the company’s stock valued at $1,124,000 after buying an additional 126 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.