Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Invesco Dorsey Wright Financial Momentum ETF (NASDAQ:PFI)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $59.55 and traded as high as $62.10. Invesco Dorsey Wright Financial Momentum ETF shares last traded at $61.0520, with a volume of 1,661 shares trading hands.

Invesco Dorsey Wright Financial Momentum ETF Stock Down 2.5%

The company has a market cap of $33.58 million, a price-to-earnings ratio of 18.63 and a beta of 1.01. The business’s fifty day simple moving average is $59.55 and its two-hundred day simple moving average is $57.64.

Institutional Investors Weigh In On Invesco Dorsey Wright Financial Momentum ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in Invesco Dorsey Wright Financial Momentum ETF by 4.6% in the fourth quarter. Cetera Investment Advisers now owns 5,116 shares of the company’s stock valued at $295,000 after acquiring an additional 225 shares during the last quarter. Bank of America Corp DE increased its position in shares of Invesco Dorsey Wright Financial Momentum ETF by 0.6% during the first quarter. Bank of America Corp DE now owns 53,417 shares of the company’s stock worth $2,845,000 after purchasing an additional 294 shares in the last quarter. Trueblood Wealth Management LLC increased its position in shares of Invesco Dorsey Wright Financial Momentum ETF by 6.1% during the fourth quarter. Trueblood Wealth Management LLC now owns 7,405 shares of the company’s stock worth $427,000 after purchasing an additional 428 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Invesco Dorsey Wright Financial Momentum ETF by 9.4% in the 4th quarter. Royal Bank of Canada now owns 5,854 shares of the company’s stock valued at $338,000 after purchasing an additional 503 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Invesco Dorsey Wright Financial Momentum ETF in the 4th quarter valued at about $35,000.

Invesco Dorsey Wright Financial Momentum ETF Company Profile

PowerShares Dynamic Financial Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Financial Sector Intellidex Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investments and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.