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

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-strong trading volume on Tuesday . Approximately 35,351 shares changed hands during mid-day trading, an increase of 60% from the previous session’s volume of 22,139 shares.The stock last traded at $105.96 and had previously closed at $107.68.

Invesco Dorsey Wright Momentum ETF Price Performance

The firm’s fifty day moving average price is $111.61 and its two-hundred day moving average price is $107.87. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 32.44 and a beta of 1.02.

Invesco Dorsey Wright Momentum ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 23rd were given a dividend of $0.1344 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Keener Financial Planning LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF during the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new stake in Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at about $32,000. GeoWealth Management LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at approximately $41,000. Harbour Investments Inc. lifted its position in shares of Invesco Dorsey Wright Momentum ETF by 206.2% during the fourth quarter. Harbour Investments Inc. now owns 594 shares of the company’s stock worth $64,000 after acquiring an additional 400 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth about $83,000.

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.