Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Large Volume Increase – Should You Buy?

Invesco China Technology ETF (NYSEARCA:CQQQ) shares saw unusually-strong trading volume on Tuesday . Approximately 1,221,559 shares traded hands during trading, an increase of 107% from the previous session’s volume of 589,101 shares.The stock last traded at $52.30 and had previously closed at $53.51.

Invesco China Technology ETF Price Performance

The company’s fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $44.89. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 20.61 and a beta of 0.64.

Hedge Funds Weigh In On Invesco China Technology ETF

Several institutional investors have recently added to or reduced their stakes in CQQQ. Sage Mountain Advisors LLC grew its position in Invesco China Technology ETF by 331.6% during the second quarter. Sage Mountain Advisors LLC now owns 1,187 shares of the company’s stock valued at $53,000 after buying an additional 912 shares during the period. Optimum Investment Advisors bought a new position in Invesco China Technology ETF during the first quarter valued at about $80,000. Comerica Bank bought a new position in Invesco China Technology ETF during the fourth quarter valued at about $101,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Invesco China Technology ETF during the second quarter valued at about $120,000. Finally, Farther Finance Advisors LLC bought a new position in Invesco China Technology ETF during the second quarter valued at about $142,000.

Invesco China Technology ETF Company Profile

Guggenheim China Technology ETF (the Fund), formerly Claymore China Technology ETF, seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the AlphaShares China Technology Index (the Index). The Fund will invest at least 80% of its total assets in common stock, American depositary receipts (ADRs), American depositary shares (ADSs), global depositary receipts (GDRs) and international depositary receipts (IDRs) that comprise the Index and depositary receipts or shares representing common stocks included in the Index (or underlying securities representing ADRs, ADSs, GDRs and IDRs included in the Index).