Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 52-Week High – What’s Next?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) reached a new 52-week high on Monday . The company traded as high as $149.40 and last traded at $148.72, with a volume of 3741 shares. The stock had previously closed at $144.25.

Invesco Dorsey Wright Momentum ETF Stock Down 0.5%

The business’s 50 day simple moving average is $138.09 and its two-hundred day simple moving average is $127.87. The stock has a market cap of $1.59 billion, a P/E ratio of 28.67 and a beta of 1.17.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

A number of hedge funds and other institutional investors have recently modified their holdings of PDP. Morgan Stanley grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 0.9% in the fourth quarter. Morgan Stanley now owns 688,024 shares of the company’s stock worth $80,089,000 after purchasing an additional 6,276 shares during the last quarter. LPL Financial LLC grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 6.1% in the fourth quarter. LPL Financial LLC now owns 350,205 shares of the company’s stock worth $40,765,000 after purchasing an additional 20,250 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 18.1% in the fourth quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock worth $29,997,000 after purchasing an additional 39,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock worth $29,265,000 after purchasing an additional 248,293 shares during the last quarter. Finally, Summit Financial LLC grew its stake in shares of Invesco Dorsey Wright Momentum ETF by 1.5% in the fourth quarter. Summit Financial LLC now owns 215,035 shares of the company’s stock worth $25,031,000 after purchasing an additional 3,108 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.