Sovereign Financial Group Inc. Decreases Holdings in Invesco Dorsey Wright Momentum ETF $PDP

Sovereign Financial Group Inc. trimmed its holdings in shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) by 1.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,763 shares of the company’s stock after selling 219 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Invesco Dorsey Wright Momentum ETF were worth $1,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PDP. Red Tortoise LLC purchased a new stake in Invesco Dorsey Wright Momentum ETF in the 2nd quarter worth about $27,000. Costello Asset Management INC purchased a new stake in Invesco Dorsey Wright Momentum ETF in the 1st quarter worth about $63,000. WealthShield Partners LLC purchased a new stake in Invesco Dorsey Wright Momentum ETF in the 1st quarter worth about $70,000. Ameritas Advisory Services LLC purchased a new stake in Invesco Dorsey Wright Momentum ETF in the 2nd quarter worth about $114,000. Finally, Allworth Financial LP raised its position in Invesco Dorsey Wright Momentum ETF by 21.6% in the 1st quarter. Allworth Financial LP now owns 1,615 shares of the company’s stock worth $160,000 after purchasing an additional 287 shares during the period.

Invesco Dorsey Wright Momentum ETF Price Performance

Invesco Dorsey Wright Momentum ETF stock opened at $116.22 on Friday. Invesco Dorsey Wright Momentum ETF has a 1-year low of $86.41 and a 1-year high of $120.84. The firm has a market capitalization of $1.32 billion, a P/E ratio of 28.67 and a beta of 1.02. The company’s 50-day moving average is $114.25 and its 200 day moving average is $107.55.

Invesco Dorsey Wright Momentum ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Monday, September 22nd were given a $0.1134 dividend. This is an increase from Invesco Dorsey Wright Momentum ETF’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.45 dividend on an annualized basis and a yield of 0.4%.

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.