NewSquare Capital has sold 97,285 shares of the Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) in Q1 2026, a transaction valued at approximately $12.07 million based on average quarterly prices. This sale reduced NewSquare’s stake in PDP to 1.13% of its reportable 13F assets under management, reflecting a decrease in the position value by $10.86 million due to both share sales and price movements.
This divestment comes as PDP has shown strong performance, delivering a 36.6% one-year NAV return and outpacing the Russell 3000 Growth Index across multiple timeframes. The ETF focuses on U.S. equities with strong relative momentum, which has contributed to its robust growth. However, the high price-to-earnings ratio above 33 raises concerns about potential vulnerability should market sentiment shift.
For market professionals, NewSquare’s decision to trim its PDP exposure suggests a strategic approach to profit-taking amid strong gains, while still retaining over $13 million in shares. This move highlights the importance of monitoring momentum strategies, especially in a volatile market environment.
Source: nasdaq.com