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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $124.13 and last traded at $124.16, with a volume of 10731 shares trading hands. The stock had previously closed at $122.92.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company has a 50-day moving average of $117.21 and a 200-day moving average of $115.27. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PDP. B. Riley Wealth Advisors Inc. bought a new position in shares of Invesco Dorsey Wright Momentum ETF during the 2nd quarter valued at $3,136,000. Flow Traders U.S. LLC raised its stake in Invesco Dorsey Wright Momentum ETF by 83.7% in the second quarter. Flow Traders U.S. LLC now owns 20,615 shares of the company’s stock worth $2,239,000 after buying an additional 9,393 shares in the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in Invesco Dorsey Wright Momentum ETF in the second quarter worth $440,000. Commonwealth Equity Services LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 386,437 shares of the company’s stock worth $45,621,000 after purchasing an additional 10,409 shares during the period. Finally, PMG Wealth Management Inc. raised its stake in Invesco Dorsey Wright Momentum ETF by 20.1% during the second quarter. PMG Wealth Management Inc. now owns 9,615 shares of the company’s stock valued at $1,044,000 after buying an additional 1,607 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.