Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) Trading 0.8% Higher – Here’s Why

Shares of Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ) were up 0.8% during mid-day trading on Thursday . The stock traded as high as $111.20 and last traded at $110.40. Approximately 2,702 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 3,234 shares. The stock had previously closed at $109.51.

Invesco Dorsey Wright Basic Materials Momentum ETF Stock Performance

The business has a 50-day simple moving average of $106.17 and a two-hundred day simple moving average of $102.03. The company has a market capitalization of $58.22 million, a price-to-earnings ratio of 19.97 and a beta of 1.33.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Laurel Wealth Advisors LLC boosted its holdings in Invesco Dorsey Wright Basic Materials Momentum ETF by 9,182.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 66,464 shares of the company’s stock valued at $6,174,000 after purchasing an additional 65,748 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the 3rd quarter valued at approximately $547,000. Trueblood Wealth Management LLC boosted its stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF by 7.4% in the second quarter. Trueblood Wealth Management LLC now owns 4,130 shares of the company’s stock valued at $384,000 after buying an additional 285 shares in the last quarter. Mason Investment Advisory Services Inc. purchased a new stake in shares of Invesco Dorsey Wright Basic Materials Momentum ETF in the third quarter valued at approximately $204,000. Finally, Raymond James Financial Inc. acquired a new position in Invesco Dorsey Wright Basic Materials Momentum ETF during the second quarter worth $34,000.

Invesco Dorsey Wright Basic Materials Momentum ETF Company Profile

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.