Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Hits New 52-Week High Following Dividend Announcement

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)’s share price reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as $117.68 and last traded at $117.54, with a volume of 5147 shares changing hands. The stock had previously closed at $117.41.

The newly announced dividend which will be paid on Friday, September 26th. Investors of record on Monday, September 22nd will be paid a $0.1134 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.45 annualized dividend and a yield of 0.4%. This is a boost from Invesco Dorsey Wright Momentum ETF’s previous quarterly dividend of $0.04.

Invesco Dorsey Wright Momentum ETF Stock Performance

The company’s fifty day simple moving average is $112.65 and its 200-day simple moving average is $105.98. The company has a market capitalization of $1.37 billion, a P/E ratio of 28.67 and a beta of 1.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDP. Summit Financial LLC bought a new position in Invesco Dorsey Wright Momentum ETF during the 1st quarter worth about $20,490,000. LPL Financial LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 52.7% during the 1st quarter. LPL Financial LLC now owns 354,067 shares of the company’s stock worth $35,400,000 after acquiring an additional 122,164 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Invesco Dorsey Wright Momentum ETF by 5,209.6% during the 1st quarter. Farther Finance Advisors LLC now owns 71,148 shares of the company’s stock worth $7,150,000 after acquiring an additional 69,808 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Invesco Dorsey Wright Momentum ETF during the 2nd quarter worth about $3,136,000. Finally, Global Retirement Partners LLC bought a new position in Invesco Dorsey Wright Momentum ETF during the 2nd quarter worth about $1,994,000.

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.