Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Share Price Passes Above 200-Day Moving Average – What’s Next?

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $58.89 and traded as high as $62.98. Invesco Dorsey Wright Financial Momentum ETF shares last traded at $62.7840, with a volume of 67,169 shares trading hands.

Invesco Dorsey Wright Financial Momentum ETF Stock Down 1.1%

The company has a market capitalization of $59.00 million, a price-to-earnings ratio of 18.63 and a beta of 1.00. The stock’s 50-day simple moving average is $62.54 and its two-hundred day simple moving average is $58.93.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in Invesco Dorsey Wright Financial Momentum ETF by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,800 shares of the company’s stock valued at $102,000 after buying an additional 1,200 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Invesco Dorsey Wright Financial Momentum ETF during the 4th quarter worth approximately $115,000. Jones Financial Companies Lllp increased its stake in Invesco Dorsey Wright Financial Momentum ETF by 677.4% during the 1st quarter. Jones Financial Companies Lllp now owns 2,612 shares of the company’s stock worth $140,000 after buying an additional 2,276 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Invesco Dorsey Wright Financial Momentum ETF by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 5,116 shares of the company’s stock valued at $295,000 after acquiring an additional 225 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Invesco Dorsey Wright Financial Momentum ETF by 9.4% during the fourth quarter. Royal Bank of Canada now owns 5,854 shares of the company’s stock valued at $338,000 after acquiring an additional 503 shares during the last quarter.

About Invesco Dorsey Wright Financial Momentum ETF

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.