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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-strong trading volume on Friday . Approximately 108,201 shares changed hands during trading, an increase of 418% from the previous session’s volume of 20,893 shares.The stock last traded at $113.48 and had previously closed at $113.59.

Invesco Dorsey Wright Momentum ETF Stock Down 0.2 %

The stock has a market cap of $1.40 billion, a P/E ratio of 26.00 and a beta of 1.02. The business’s 50-day simple moving average is $110.36 and its two-hundred day simple moving average is $102.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF during the third quarter worth $83,000. World Investment Advisors LLC bought a new stake in shares of Invesco Dorsey Wright Momentum ETF during the 3rd quarter valued at $340,000. MML Investors Services LLC raised its stake in shares of Invesco Dorsey Wright Momentum ETF by 24.0% during the 3rd quarter. MML Investors Services LLC now owns 27,932 shares of the company’s stock valued at $2,884,000 after purchasing an additional 5,413 shares during the period. HighTower Advisors LLC lifted its holdings in Invesco Dorsey Wright Momentum ETF by 3.5% during the 3rd quarter. HighTower Advisors LLC now owns 3,966 shares of the company’s stock worth $410,000 after purchasing an additional 133 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth about $1,102,000.

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.