Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Share Price Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $104.64 and traded as low as $97.85. Invesco Dorsey Wright Technology Momentum ETF shares last traded at $99.62, with a volume of 66,521 shares traded.

Invesco Dorsey Wright Technology Momentum ETF Stock Performance

The company has a market cap of $552.89 million, a PE ratio of 32.05 and a beta of 1.67. The stock’s 50 day moving average price is $104.24 and its 200-day moving average price is $104.64.

Hedge Funds Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in Invesco Dorsey Wright Technology Momentum ETF in the 1st quarter worth approximately $388,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 220.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,987 shares of the company’s stock valued at $1,770,000 after buying an additional 8,937 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 28.3% during the 1st quarter. Royal Bank of Canada now owns 45,210 shares of the company’s stock valued at $3,903,000 after buying an additional 9,962 shares in the last quarter. Nilsine Partners LLC purchased a new stake in shares of Invesco Dorsey Wright Technology Momentum ETF in the 2nd quarter worth about $1,677,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Invesco Dorsey Wright Technology Momentum ETF in the 2nd quarter worth about $836,000.

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.