Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Large Volume Increase – Still a Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw an uptick in trading volume on Monday . 30,417 shares traded hands during trading, an increase of 10% from the previous session’s volume of 27,608 shares.The stock last traded at $119.75 and had previously closed at $121.23.

Invesco Dorsey Wright Momentum ETF Price Performance

The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 28.67 and a beta of 1.13. The firm’s fifty day moving average is $124.33 and its 200-day moving average is $119.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco Dorsey Wright Momentum ETF by 7,945.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 251,418 shares of the company’s stock valued at $29,265,000 after purchasing an additional 248,293 shares in the last quarter. Stifel Financial Corp increased its holdings in Invesco Dorsey Wright Momentum ETF by 18.1% in the fourth quarter. Stifel Financial Corp now owns 257,673 shares of the company’s stock worth $29,997,000 after purchasing an additional 39,436 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Invesco Dorsey Wright Momentum ETF in the second quarter valued at approximately $3,136,000. &PARTNERS boosted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 180.0% during the 4th quarter. &PARTNERS now owns 41,800 shares of the company’s stock worth $4,866,000 after buying an additional 26,869 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Invesco Dorsey Wright Momentum ETF during the 4th quarter worth approximately $2,699,000.

About Invesco Dorsey Wright Momentum ETF

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.