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

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) shares saw strong trading volume on Tuesday . 35,351 shares changed hands during trading, an increase of 60% from the previous session’s volume of 22,139 shares.The stock last traded at $105.96 and had previously closed at $107.68.

Invesco Dorsey Wright Momentum ETF Stock Performance

The firm has a market cap of $1.31 billion, a P/E ratio of 32.44 and a beta of 1.02. The firm’s fifty day moving average is $111.61 and its 200 day moving average is $107.87.

Invesco Dorsey Wright Momentum ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 23rd were issued a $0.1344 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco Dorsey Wright Momentum ETF

A number of hedge funds have recently bought and sold shares of PDP. Keener Financial Planning LLC bought a new position in Invesco Dorsey Wright Momentum ETF during the 4th quarter worth $27,000. Russell Investments Group Ltd. bought a new stake in Invesco Dorsey Wright Momentum ETF during the 4th quarter worth $32,000. GeoWealth Management LLC bought a new position in Invesco Dorsey Wright Momentum ETF in the 4th quarter valued at approximately $41,000. Harbour Investments Inc. lifted its holdings in shares of Invesco Dorsey Wright Momentum ETF by 206.2% during the fourth quarter. Harbour Investments Inc. now owns 594 shares of the company’s stock worth $64,000 after purchasing an additional 400 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Invesco Dorsey Wright Momentum ETF during the 3rd quarter worth about $83,000.

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.