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

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-high trading volume on Friday . Approximately 33,869 shares traded hands during trading, an increase of 14% from the previous session’s volume of 29,782 shares.The stock last traded at $130.30 and had previously closed at $130.49.

Invesco Dorsey Wright Momentum ETF Trading Up 0.1%

The company has a market cap of $1.39 billion, a P/E ratio of 28.67 and a beta of 1.15. The firm has a 50-day moving average of $124.80 and a 200 day moving average of $121.00.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after acquiring an additional 248,293 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 47.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 151,288 shares of the company’s stock valued at $17,611,000 after acquiring an additional 48,895 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 18.1% in the 4th quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock valued at $29,997,000 after acquiring an additional 39,436 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at about $3,136,000. Finally, &PARTNERS lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 180.0% in the 4th quarter. &PARTNERS now owns 41,800 shares of the company’s stock valued at $4,866,000 after acquiring an additional 26,869 shares during the last quarter.

About Invesco Dorsey Wright Momentum ETF

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.