On May 8, 2026, NewSquare Capital filed with the SEC to report the sale of 97,285 shares of the Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP), an estimated $12.07 million trade based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 8, 2026, NewSquare Capital sold 97,285 shares of the Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) during the first quarter. The estimated transaction value was $12.07 million, calculated using the average closing price for the quarter. The fund reported holding 108,116 shares, worth $13.05 million, at quarter-end.
What else to know
The sell reduced the PDP stake to 1.13% of reportable 13F assets under management.
Top holdings after the filing:
NYSEMKT:VTI: $116.94 million (10.2% of AUM)
NYSEMKT:VEU: $66.55 million (5.8% of AUM)
NYSEMKT:SCHX: $60.30 million (5.3% of AUM)
NYSEMKT:IJH: $33.46 million (2.9% of AUM)
NASDAQ:BND: $31.75 million (2.8% of AUM)
As of May 7, 2026, PDP shares were priced at $139.28, up 37% over the past year, with a 7 percentage-point alpha versus the S&P 500.
ETF overview
Metric | Value |
|---|---|
Price (as of market close May 7, 2026) | $139.28 |
One-year total return | 37% |
Dividend yield (TTM) | 0.1% |
AUM | $1.5 billion |
ETF snapshot
Investment strategy: PDP seeks to track the Dorsey Wright Technical Leaders Index, focusing on U.S. equities exhibiting strong relative momentum characteristics.
Underlying holdings: The portfolio consists of approximately 100 U.S. companies selected and rebalanced quarterly based on proprietary momentum screening.
Expense ratio and structure: It has a passively managed ETF structure, designed for efficient exposure to momentum equities; see prospectus for fee details.
The Invesco Dorsey Wright Momentum ETF offers investors systematic exposure to U.S. equities demonstrating strong relative strength, using a rules-based methodology to capture momentum-driven performance. The fund’s quarterly rebalancing ensures the portfolio remains aligned with prevailing market leadership trends. This disciplined approach provides access to a diversified set of high-momentum stocks while leveraging the liquidity and transparency of the ETF structure.
What this transaction means for investors
PDP delivered a 36.6% one-year NAV return through April 30 and outpaced the Russell 3000 Growth Index over one-, three-, and five-year periods, and that strong momentum-driven rally might be part of why NewSquare decided to trim its stake here. PDP’s strategy focuses on roughly 100 U.S. companies showing strong relative strength characteristics, with quarterly rebalancing designed to keep the portfolio tilted toward market leaders. Current top holdings include names like Comfort Systems USA, Apple, Amphenol, Quanta Services, and Western Digital.
For long-term investors, it’s important to remember that momentum strategies can work extremely well during strong bull markets, but they also tend to reverse quickly when leadership changes. PDP’s concentration in higher-growth sectors and relatively elevated valuation metrics, including a price-to-earnings ratio above 33, could leave the fund more vulnerable if market sentiment shifts. And ultimately, NewSquare Capital still retained more than $13 million worth of shares at quarter-end, suggesting the firm is likely just trimming exposure after outsized gains.
finance.yahoo.com
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