Institute for Wealth Management LLC. Cuts Position in Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)

Institute for Wealth Management LLC. lowered its holdings in shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,602 shares of the company’s stock after selling 1,298 shares during the quarter. Invesco Dorsey Wright Momentum ETF makes up 0.6% of Institute for Wealth Management LLC.’s holdings, making the stock its 27th largest position. Institute for Wealth Management LLC. owned about 0.38% of Invesco Dorsey Wright Momentum ETF worth $5,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC lifted its position in Invesco Dorsey Wright Momentum ETF by 10.7% during the third quarter. FMR LLC now owns 6,953 shares of the company’s stock worth $718,000 after buying an additional 671 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Invesco Dorsey Wright Momentum ETF by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 84,083 shares of the company’s stock valued at $8,682,000 after acquiring an additional 329 shares during the last quarter. HighTower Advisors LLC grew its position in Invesco Dorsey Wright Momentum ETF by 3.5% in the third quarter. HighTower Advisors LLC now owns 3,966 shares of the company’s stock worth $410,000 after acquiring an additional 133 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Invesco Dorsey Wright Momentum ETF in the 2nd quarter valued at $597,000. Finally, Merit Financial Group LLC grew its holdings in shares of Invesco Dorsey Wright Momentum ETF by 39.6% during the 4th quarter. Merit Financial Group LLC now owns 12,178 shares of the company’s stock worth $1,310,000 after purchasing an additional 3,453 shares during the period.

Invesco Dorsey Wright Momentum ETF Price Performance

Shares of PDP opened at $113.65 on Friday. Invesco Dorsey Wright Momentum ETF has a 1-year low of $86.81 and a 1-year high of $117.67. The firm has a 50-day simple moving average of $112.29 and a two-hundred day simple moving average of $105.71. The stock has a market cap of $1.40 billion, a PE ratio of 26.00 and a beta of 1.02.

Invesco Dorsey Wright Momentum ETF Dividend Announcement

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

Invesco Dorsey Wright Momentum ETF 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.