LJI Wealth Management's Share Sale: Indiana-based LJI Wealth Management sold 52,386 shares of the Invesco DWA Momentum ETF (PDP) for approximately $5.9 million in the third quarter, reducing its holding to 21,170 shares valued at $2.5 million.
Impact on Portfolio Weight: The sale decreased PDP's weight in LJI's portfolio from 1.4% to 0.4%, indicating a strategy of profit-taking after a strong performance in high-momentum stocks.
Investment Strategy: LJI's recent portfolio adjustments reflect a disciplined approach, focusing on maintaining balance and reducing exposure to momentum-driven equities while increasing investments in diversified core holdings.
Market Performance Context: As of the latest market close, PDP shares were priced at $123.06, showing a 16% increase over the past year, which slightly underperformed compared to the S&P 500's 18.5% gain during the same period.
Wall Street analysts forecast PDP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PDP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Wall Street analysts forecast PDP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PDP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 124.845
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Current: 124.845
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
