Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Sets New 52-Week High – Here’s Why

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $77.32 and last traded at $77.29, with a volume of 10443 shares. The stock had previously closed at $76.33.

Invesco Dorsey Wright Technology Momentum ETF Price Performance

The business has a 50 day moving average of $67.92 and a 200 day moving average of $63.10. The firm has a market capitalization of $553.68 million, a price-to-earnings ratio of 12.47 and a beta of 1.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTF. Raymond James & Associates lifted its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 1.3% in the second quarter. Raymond James & Associates now owns 83,655 shares of the company’s stock valued at $5,182,000 after purchasing an additional 1,101 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 179.6% in the second quarter. Envestnet Asset Management Inc. now owns 55,863 shares of the company’s stock valued at $3,460,000 after acquiring an additional 35,882 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Invesco Dorsey Wright Technology Momentum ETF by 49.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 58,352 shares of the company’s stock worth $3,614,000 after buying an additional 19,277 shares during the last quarter. SPC Financial Inc. increased its position in Invesco Dorsey Wright Technology Momentum ETF by 1.9% during the second quarter. SPC Financial Inc. now owns 16,376 shares of the company’s stock worth $1,014,000 after buying an additional 308 shares during the last quarter. Finally, StoneX Group Inc. increased its position in Invesco Dorsey Wright Technology Momentum ETF by 5.6% during the third quarter. StoneX Group Inc. now owns 33,883 shares of the company’s stock worth $2,149,000 after buying an additional 1,808 shares during the last quarter.

About Invesco Dorsey Wright Technology Momentum ETF

PowerShares Dynamic Technology Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Technology Sector Intellidex Index (the Index). The Index consists of stocks of the United States technology companies. These are companies that are principally engaged in the business of providing technology-related products and services, including computer hardware and software, Internet, electronics and semiconductors, and communication technologies.