Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Stock Price Down 3.4% – Here’s Why

Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ)’s stock price traded down 3.4% during trading on Monday . The stock traded as low as $116.88 and last traded at $116.96. 5,525 shares were traded during trading, a decline of 8% from the average session volume of 6,032 shares. The stock had previously closed at $121.12.

Invesco Dorsey Wright Basic Materials Momentum ETF Trading Down 3.4%

The firm has a market capitalization of $87.72 million, a price-to-earnings ratio of 19.97 and a beta of 1.33. The business has a 50-day moving average price of $125.30 and a two-hundred day moving average price of $113.03.

Invesco Dorsey Wright Basic Materials Momentum ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, December 22nd were given a $0.1551 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.62 annualized dividend and a yield of 0.5%.

Hedge Funds Weigh In On Invesco Dorsey Wright Basic Materials Momentum ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC grew its position in shares of Invesco Dorsey Wright Basic Materials Momentum ETF by 9,182.7% during the second quarter. Laurel Wealth Advisors LLC now owns 66,464 shares of the company’s stock worth $6,174,000 after acquiring an additional 65,748 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF in the 2nd quarter valued at about $34,000. Mason Investment Advisory Services Inc. bought a new stake in Invesco Dorsey Wright Basic Materials Momentum ETF in the 3rd quarter valued at about $204,000. Susquehanna International Group LLP acquired a new position in Invesco Dorsey Wright Basic Materials Momentum ETF during the 3rd quarter valued at about $547,000. Finally, Silver Oak Securities Incorporated acquired a new position in Invesco Dorsey Wright Basic Materials Momentum ETF during the 4th quarter valued at about $326,000.

About Invesco Dorsey Wright Basic Materials Momentum ETF

The Invesco DWA Basic Materials Momentum ETF (PYZ) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an index of US basic materials firms selected and weighted by price momentum. PYZ was launched on Oct 12, 2006 and is managed by Invesco.