Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Strong Trading Volume – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw strong trading volume on Wednesday . 103,118 shares changed hands during 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 cap of $1.24 billion, a PE ratio of 28.67 and a beta of 1.13. The company has a 50-day moving average price of $117.79 and a two-hundred day moving average price of $111.79.

Invesco Dorsey Wright Momentum ETF Increases Dividend

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

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Institutional investors have recently added to or reduced their stakes in the company. Red Tortoise LLC purchased a new position in Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at about $27,000. Root Financial Partners LLC purchased a new position in Invesco Dorsey Wright Momentum ETF in the third quarter valued at about $39,000. Hazlett Burt & Watson Inc. grew its stake in Invesco Dorsey Wright Momentum ETF by 375.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 475 shares of the company’s stock valued at $57,000 after purchasing an additional 375 shares in the last quarter. Costello Asset Management INC purchased a new stake in Invesco Dorsey Wright Momentum ETF during the 1st quarter worth approximately $63,000. Finally, WealthShield Partners LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter valued at approximately $70,000.

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.