PDP Stock Summary and Trading Ideas (Invesco Dwa Momentum ETF | NASDAQ:PDP)

The Invesco DWA Momentum ETF (Fund) is based on the Dorsey Wright Technical Leaders Index (DWA Technical Leaders Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index includes approximately 100 US companies from the NASDAQ US Benchmark Index. The Index is constructed pursuant to Dorsey, Wright & Associates, LLCs proprietary methodology that is designed to identify companies that demonstrate powerful relative strength characteristics. Relative strength is the measurement of a security s performance in a given universe over time as compared to the performance of all other securities in that universe. The Fund and the Index are rebalanced and reconstituted quarterly.

Invesco Dwa Momentum ETF trades on the NASDAQ stock market under the symbol PDP.

As of April 24, 2024, PDP stock price declined to $93.74 with 29,753 million shares trading.

PDP has a beta of 1.19, meaning it tends to be more sensitive to market movements. PDP has a correlation of 0.83 to the broad based SPY ETF.

PDP has a market cap of $1.21 billion. This is considered a Small Cap stock.

In the last 3 years, PDP stock traded as high as $101.60 and as low as $66.22.

PDP has underperformed the market in the last year with a price return of +23.4% while the SPY ETF gained +24.2%. However, in the short term, PDP had mixed performance relative to the market. It has outperformed in the last 3 months, returning +7.8% vs +4.6% return in SPY. But in the last 2 weeks, PDP shares have been beat by the market, returning -3.3% compared to an SPY return of -2.7%.

PDP support price is $92.66 and resistance is $94.88 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PDP stock will trade within this expected range on the day.