Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 52-Week High – Time to Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) reached a new 52-week high during trading on Wednesday . The company traded as high as $132.89 and last traded at $132.66, with a volume of 23348 shares trading hands. The stock had previously closed at $131.74.

Invesco Dorsey Wright Momentum ETF Trading Down 0.2%

The stock has a market capitalization of $1.40 billion, a P/E ratio of 28.67 and a beta of 1.15. The stock’s 50 day simple moving average is $125.55 and its 200 day simple moving average is $121.40.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PDP. Jones Financial Companies Lllp boosted its stake in Invesco Dorsey Wright Momentum ETF by 14.7% during the 1st quarter. Jones Financial Companies Lllp now owns 2,056 shares of the company’s stock valued at $206,000 after acquiring an additional 264 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Invesco Dorsey Wright Momentum ETF during the 1st quarter valued at $775,000. Jane Street Group LLC boosted its stake in Invesco Dorsey Wright Momentum ETF by 41.2% during the 1st quarter. Jane Street Group LLC now owns 8,288 shares of the company’s stock valued at $829,000 after acquiring an additional 2,418 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 10.5% during the second quarter. Benjamin Edwards Inc. now owns 11,288 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,068 shares during the period. Finally, MML Investors Services LLC raised its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.0% during the second quarter. MML Investors Services LLC now owns 39,463 shares of the company’s stock worth $4,285,000 after purchasing an additional 391 shares during the period.

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