Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sets New 12-Month High – Here’s Why

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $140.46 and last traded at $139.94, with a volume of 22752 shares traded. The stock had previously closed at $136.93.

Invesco Dorsey Wright Momentum ETF Stock Performance

The firm’s 50-day simple moving average is $127.25 and its 200 day simple moving average is $122.64. The company has a market cap of $1.50 billion, a P/E ratio of 28.67 and a beta of 1.18.

Institutional Trading of Invesco Dorsey Wright Momentum ETF

Several institutional investors and hedge funds have recently made changes to their positions in PDP. Northwestern Mutual Wealth Management Co. raised its position in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after acquiring an additional 248,293 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of 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 valued at $17,611,000 after acquiring an additional 48,895 shares during the last quarter. Stifel Financial Corp raised its position in shares of Invesco Dorsey Wright Momentum ETF by 18.1% during the 4th quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock valued at $29,997,000 after acquiring an additional 39,436 shares during the last quarter. &PARTNERS raised its position in shares of Invesco Dorsey Wright Momentum ETF by 180.0% during the 4th quarter. &PARTNERS now owns 41,800 shares of the company’s stock valued at $4,866,000 after acquiring an additional 26,869 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at $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.