Invesco Dorsey Wright Momentum ETF Sees Significant Outflows

Today, we focus on the week-over-week changes in shares outstanding among various ETFs, particularly the Invesco Dorsey Wright Momentum ETF (Symbol: PDP). This ETF has experienced a notable outflow of approximately $271.4 million, marking a 20.3% decrease in shares outstanding—from 15,070,000 to 12,010,000.

Among the key holdings of PDP, O’Reilly Automotive, Inc. (Symbol: ORLY) is down about 0.3%, while Copart Inc (Symbol: CPRT) has risen by approximately 1.1%. Targa Resources Corp (Symbol: TRGP) has declined by around 2.5%. Investors can find a complete list of PDP’s holdings on the PDP Holdings page.

The chart below illustrates the one-year price performance of PDP in relation to its 200-day moving average:

From the chart, the lowest point in PDP’s 52-week range is $86.41, with a high of $117.6702. The most recent trading price stands at $89.63. For investors, comparing this share price to the 200-day moving average is a useful method of technical analysis. More details on this technique can be found here.

Exchange-traded funds (ETFs) operate like stocks; however, investors buy and sell “units” instead of “shares.” These units can circulate among investors like stocks but can also be created or destroyed based on market demand. We monitor weekly changes in shares outstanding to identify ETFs with significant inflows (indicating new units created) or outflows (indicating units destroyed). The creation of new units necessitates purchasing the ETF’s underlying holdings, while unit destruction involves selling these holdings. Hence, large flows can impact the individual securities that comprise these ETFs.

Click here to discover which nine other ETFs have experienced notable outflows »

Additional Resources:

• Stock MACD
• JZXN market cap history
• ETFs Holding CSWI

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.