Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 1-Year High – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $152.72 and last traded at $152.40, with a volume of 2474 shares trading hands. The stock had previously closed at $148.99.

Invesco Dorsey Wright Momentum ETF Stock Up 0.7%

The company has a market cap of $1.63 billion, a price-to-earnings ratio of 28.67 and a beta of 1.17. The business’s fifty day simple moving average is $139.57 and its two-hundred day simple moving average is $128.59.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in Invesco Dorsey Wright Momentum ETF by 7,945.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after buying an additional 248,293 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Invesco Dorsey Wright Momentum ETF by 47.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 151,288 shares of the company’s stock worth $17,611,000 after buying an additional 48,895 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 18.1% in the 4th quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock worth $29,997,000 after acquiring an additional 39,436 shares during the period. &PARTNERS lifted its stake in shares of Invesco Dorsey Wright Momentum ETF by 180.0% in the 4th quarter. &PARTNERS now owns 41,800 shares of the company’s stock worth $4,866,000 after acquiring an additional 26,869 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at about $2,699,000.

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. The Index includes approximately 100 the United States-listed companies. Invesco PowerShares Capital Management LLC acts as the Fund’s investment adviser.