Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Reaches New 12-Month High – Still a Buy?

Shares of Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $99.58 and last traded at $98.46, with a volume of 20884 shares trading hands. The stock had previously closed at $93.06.

Invesco Dorsey Wright Technology Momentum ETF Stock Performance

The firm has a market capitalization of $620.53 million, a price-to-earnings ratio of 32.05 and a beta of 1.50. The business has a fifty day moving average price of $89.51 and a 200 day moving average price of $82.52.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Invesco Dorsey Wright Technology Momentum ETF in the 4th quarter valued at approximately $57,000. Qube Research & Technologies Ltd lifted its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 5,685.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,157 shares of the company’s stock valued at $79,000 after acquiring an additional 1,137 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 29.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,203 shares of the company’s stock valued at $130,000 after acquiring an additional 495 shares during the period. Sankala Group LLC acquired a new position in shares of Invesco Dorsey Wright Technology Momentum ETF during the 4th quarter valued at $144,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Invesco Dorsey Wright Technology Momentum ETF during the 3rd quarter valued at $203,000.

Invesco Dorsey Wright Technology Momentum ETF Company Profile

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.