Sovereign Financial Group Inc. Cuts Stock Holdings in Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP)

Sovereign Financial Group Inc. trimmed its stake in shares of Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,755 shares of the company’s stock after selling 98 shares during the period. Sovereign Financial Group Inc. owned 0.14% of Invesco Dorsey Wright Momentum ETF worth $1,730,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PDP. International Assets Investment Management LLC purchased a new position in Invesco Dorsey Wright Momentum ETF during the second quarter valued at $26,000. Carolina Wealth Advisors LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter worth $39,000. Delta Investment Management LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter worth $204,000. Trueblood Wealth Management LLC purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter worth $204,000. Finally, Shilanski & Associates Inc. purchased a new position in shares of Invesco Dorsey Wright Momentum ETF in the 1st quarter worth $219,000.

Invesco Dorsey Wright Momentum ETF Stock Up 1.3 %

Shares of NASDAQ:PDP opened at $104.40 on Wednesday. Invesco Dorsey Wright Momentum ETF has a 52 week low of $72.68 and a 52 week high of $104.58. The stock has a market capitalization of $1.30 billion, a P/E ratio of 26.00 and a beta of 1.02. The firm has a fifty day simple moving average of $99.48 and a two-hundred day simple moving average of $97.80.

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.