Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw an uptick in trading volume on Wednesday . 103,118 shares traded hands during mid-day trading, an increase of 388% from the previous session’s volume of 21,132 shares.The stock last traded at $111.8360 and had previously closed at $111.21.

Invesco Dorsey Wright Momentum ETF Price Performance

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13. The company’s 50-day moving average price is $117.99 and its two-hundred day moving average price is $111.81.

Invesco Dorsey Wright Momentum ETF Increases Dividend

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

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in Invesco Dorsey Wright Momentum ETF during the third quarter valued at approximately $168,000. Harvest Investment Services LLC increased its position in shares of Invesco Dorsey Wright Momentum ETF by 1.3% during the 3rd quarter. Harvest Investment Services LLC now owns 9,523 shares of the company’s stock valued at $1,124,000 after purchasing an additional 126 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 valued at $369,000 after buying an additional 108 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 3rd quarter worth approximately $1,202,000. Finally, Creative Planning boosted its stake in shares of Invesco Dorsey Wright Momentum ETF by 39.3% in the 3rd quarter. Creative Planning now owns 7,933 shares of the company’s stock valued at $937,000 after purchasing an additional 2,238 shares in 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.