Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $143.11 and traded as low as $138.64. Invesco Dorsey Wright Momentum ETF shares last traded at $140.56, with a volume of 26,956 shares changing hands.

Invesco Dorsey Wright Momentum ETF Price Performance

The stock has a market cap of $1.50 billion, a PE ratio of 28.67 and a beta of 1.16. The stock has a 50-day moving average price of $143.06 and a two-hundred day moving average price of $132.87.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDP. Morgan Stanley increased its stake in Invesco Dorsey Wright Momentum ETF by 0.9% in the 4th quarter. Morgan Stanley now owns 688,024 shares of the company’s stock worth $80,089,000 after acquiring an additional 6,276 shares during the last quarter. LPL Financial LLC boosted its position in shares of Invesco Dorsey Wright Momentum ETF by 6.1% during the 4th quarter. LPL Financial LLC now owns 350,205 shares of the company’s stock valued at $40,765,000 after acquiring an additional 20,250 shares during the last quarter. Stifel Financial Corp boosted 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. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after purchasing an additional 248,293 shares in the last quarter. Finally, Summit Financial LLC grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 1.5% in the fourth quarter. Summit Financial LLC now owns 215,035 shares of the company’s stock valued at $25,031,000 after purchasing an additional 3,108 shares in the last quarter.

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.