Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $119.91 and traded as high as $125.08. Invesco Dorsey Wright Momentum ETF shares last traded at $122.18, with a volume of 11,671 shares changing hands.

Invesco Dorsey Wright Momentum ETF Stock Down 2.5%

The firm’s 50 day simple moving average is $119.91 and its 200 day simple moving average is $116.75. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Red Tortoise LLC acquired a new stake in shares of Invesco Dorsey Wright Momentum ETF in the 2nd quarter worth approximately $27,000. Root Financial Partners LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF in the third quarter worth approximately $39,000. Networth Advisors LLC bought a new position in Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at $42,000. Capital Investment Counsel Inc acquired a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter valued at $46,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Invesco Dorsey Wright Momentum ETF by 375.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 475 shares of the company’s stock worth $57,000 after buying an additional 375 shares in the last quarter.

Invesco Dorsey Wright Momentum ETF Company Profile

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.