Weekly Feature | Nasdaq Dorsey Wright

Weekly Feature

Published: June 28, 2021

This content is for informational purposes only. This should not be construed as solicitation. The general public should consult their financial advisor for additional information related to investment decisions.

With no changes to any of the Invesco models this week, we take a look at the Invesco Buyback Achievers ETF (PKW).

There are no changes to any of the Invesco models this week. Year-to-date (through 6/25) value is the best performing factor in our factor ETFs quilt; ranking second is buyback, which is represented by the Invesco Buyback Achievers ETF PKW. PKW tracks an index that is comprised of US securities issued by corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing 12 months (Source: Invesco).

PKW currently has a strong 5.67 fund score, and a positive 0.56 score direction. On its default chart, the fund has given eight consecutive buy signals and reached a new all-time high earlier this month, before pulling back to the middle of its trading band. Year-to-date (through 6/25) the fund has returned 23.38% on a price return basis, outperforming the S&P 500 SPX, which has gained 13.97%, by more than 9%. PKW also carries a 1.1% yield.

A weekly overbought/oversold (OBOS) reading of 17% puts PKW well within actionable territory, so those interested in adding or increasing exposure can do so here. PKW has most recently found support at $87, with further support at $81.

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DISCLOSURE

**Unless otherwise stated, the performance numbers herein are based on price returns and do not include dividends or all transaction costs. Past performance is not indicative of future results. Potential for profits is accompanied by possibility of loss. PowerShares has arranged with Dorsey, Wright to provide this specialized ETF Point & Figure Analysis page on PowerShares sponsored products. The Point & Figure analysis, models and resulting rankings, including any information, data or commentary included herein, are created and provided solely by Dorsey, Wright & Associates. Such analysis, models and rankings should not be considered an offer to purchase or sell, or a solicitation of an offer to buy or purchase any security. The examples presented do not take into consideration commissions, tax implications, or other transactions costs. Neither Dorsey, Wright nor PowerShares through this ETF page provide investment advice or recommendations regarding any security, fund or market. As the investment professional making the final decision with respect to allocations, including any related suitability, fiduciary or other legal obligation, please remember to adhere to all applicable laws, regulations, and rules including NASD Rules 2090 and 2111. The percentage of the portfolio devoted to any ETF is at the sole discretion of the financial advisor or the customer, and not Dorsey, Wright & Associates or PowerShares. If you are not familiar with the Point & Figure methodology, we suggest you read "Point & Figure Charting, 4th Edition" by Thomas J. Dorsey and visit the PnF University, www.dorseywright.com. If you are not familiar with the PowerShares products, or Exchange Traded Funds (ETFs), we suggest you visit www.powershares.com.