Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ:PSL) Stock Jumps 1.9% – Here’s Why

Shares of Invesco Dorsey Wright Consumer Staples Momentum ETF (NASDAQ:PSL) were up 1.9% during trading on Thursday. The stock traded as high as $110.55 and last traded at $110.38. 3,358 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 1,777 shares. The stock had previously closed at $108.31.

Invesco Dorsey Wright Consumer Staples Momentum ETF Stock Up 1.9%

The business has a 50-day simple moving average of $112.15 and a two-hundred day simple moving average of $111.52. The stock has a market capitalization of $79.47 million, a P/E ratio of 18.50 and a beta of 0.65.

Invesco Dorsey Wright Consumer Staples Momentum ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were paid a $0.1652 dividend. The ex-dividend date was Monday, September 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. This is a drop from Invesco Dorsey Wright Consumer Staples Momentum ETF’s previous quarterly dividend of $0.1933.

Institutional Investors Weigh In On Invesco Dorsey Wright Consumer Staples Momentum ETF

Several large investors have recently made changes to their positions in PSL. Compass Financial Management LLC bought a new position in Invesco Dorsey Wright Consumer Staples Momentum ETF during the 2nd quarter valued at about $30,000. IMC Chicago LLC increased its holdings in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF by 71.3% during the first quarter. IMC Chicago LLC now owns 72,244 shares of the company’s stock worth $7,842,000 after buying an additional 30,081 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF in the first quarter valued at approximately $230,000. Finally, Maltin Wealth Management Inc. raised its stake in shares of Invesco Dorsey Wright Consumer Staples Momentum ETF by 82.1% in the first quarter. Maltin Wealth Management Inc. now owns 13,205 shares of the company’s stock valued at $1,433,000 after acquiring an additional 5,954 shares during the last quarter.

Invesco Dorsey Wright Consumer Staples Momentum ETF Company Profile

PowerShares Dynamic Consumer Staples Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Consumer Staples Sector Intellidex Index (the Index). The Fund will normally invest at least 80% of its total assets in common stocks of consumer staples companies. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index consists of stocks of 60 United States consumer staples companies. These are companies that are principally engaged in the businesses of providing consumer goods and services that have non-cyclical characteristics, including tobacco, textiles, food and beverage, and non-discretionary retail.