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

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

Invesco Dorsey Wright Momentum ETF Trading Up 2.2%

The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.67 and a beta of 1.18. The stock’s 50 day moving average is $127.25 and its two-hundred day moving average is $122.64.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter worth about $31,000. Operose Advisors LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter worth about $36,000. Kingdom Financial Group LLC. acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter worth about $38,000. Finally, Root Financial Partners LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 3rd quarter worth about $39,000.

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.