Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Invesco Dorsey Wright Industrials Momentum ETF (NASDAQ:PRN) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $183.76 and traded as high as $192.82. Invesco Dorsey Wright Industrials Momentum ETF shares last traded at $191.42, with a volume of 18,754 shares.

Invesco Dorsey Wright Industrials Momentum ETF Stock Up 5.3%

The company has a market cap of $342.77 million, a price-to-earnings ratio of 28.33 and a beta of 1.23. The business has a 50-day simple moving average of $184.34 and a two-hundred day simple moving average of $174.68.

Institutional Trading of Invesco Dorsey Wright Industrials Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of PRN. Osaic Holdings Inc. raised its stake in Invesco Dorsey Wright Industrials Momentum ETF by 262.6% during the second quarter. Osaic Holdings Inc. now owns 34,739 shares of the company’s stock worth $5,468,000 after acquiring an additional 25,158 shares in the last quarter. Paller Financial Services Inc acquired a new stake in shares of Invesco Dorsey Wright Industrials Momentum ETF during the 4th quarter worth about $3,489,000. American Trust bought a new position in Invesco Dorsey Wright Industrials Momentum ETF during the 2nd quarter valued at about $2,871,000. Envestnet Asset Management Inc. boosted its position in Invesco Dorsey Wright Industrials Momentum ETF by 65.2% in the second quarter. Envestnet Asset Management Inc. now owns 32,250 shares of the company’s stock valued at $5,065,000 after buying an additional 12,724 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Invesco Dorsey Wright Industrials Momentum ETF during the third quarter worth about $2,189,000.

Invesco Dorsey Wright Industrials Momentum ETF Company Profile

PowerShares Dynamic Industrials Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Industrials Sector Intellidex Index (the Index). The Index consists of stocks of 60 United States industrial companies. These are companies that are principally engaged in the business of providing industrial products and services, including engineering, heavy machinery, construction, electrical equipment, aerospace and defense, and general manufacturing.