Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Invesco Dorsey Wright Energy Momentum ETF (NASDAQ:PXI) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $61.45 and traded as high as $65.28. Invesco Dorsey Wright Energy Momentum ETF shares last traded at $64.4090, with a volume of 4,433 shares trading hands.

Invesco Dorsey Wright Energy Momentum ETF Stock Performance

The stock has a market cap of $59.13 million, a PE ratio of 17.22 and a beta of 0.64. The stock has a fifty day moving average price of $61.63 and a 200 day moving average price of $59.05.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nwam LLC bought a new stake in shares of Invesco Dorsey Wright Energy Momentum ETF during the 2nd quarter worth approximately $155,000. JNBA Financial Advisors purchased a new stake in Invesco Dorsey Wright Energy Momentum ETF in the second quarter worth $148,000. Bank of America Corp DE increased its stake in Invesco Dorsey Wright Energy Momentum ETF by 31.1% in the first quarter. Bank of America Corp DE now owns 46,068 shares of the company’s stock worth $2,743,000 after purchasing an additional 10,930 shares during the period. Royal Bank of Canada lifted its position in shares of Invesco Dorsey Wright Energy Momentum ETF by 1,797.9% during the first quarter. Royal Bank of Canada now owns 7,079 shares of the company’s stock worth $422,000 after purchasing an additional 6,706 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Invesco Dorsey Wright Energy Momentum ETF during the first quarter worth $25,000.

About Invesco Dorsey Wright Energy Momentum ETF

PowerShares Dynamic Energy Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Energy Sector Intellidex Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as energy, materials and utilities. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors.