Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) saw an uptick in trading volume on Wednesday . 242,885 shares were traded during trading, an increase of 172% from the previous session’s volume of 89,341 shares.The stock last traded at $87.22 and had previously closed at $91.20.

Invesco Dorsey Wright Technology Momentum ETF Price Performance

The company has a fifty day simple moving average of $121.11 and a 200-day simple moving average of $104.30. The company has a market cap of $523.05 million, a P/E ratio of 32.05 and a beta of 1.65.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 107.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 212,785 shares of the company’s stock valued at $14,602,000 after purchasing an additional 110,228 shares during the period. Bank of America Corp DE increased its position in Invesco Dorsey Wright Technology Momentum ETF by 2.8% during the first quarter. Bank of America Corp DE now owns 182,668 shares of the company’s stock worth $15,769,000 after buying an additional 5,005 shares during the last quarter. Paller Financial Services Inc bought a new stake in Invesco Dorsey Wright Technology Momentum ETF during the fourth quarter worth approximately $5,948,000. Royal Bank of Canada raised its holdings in Invesco Dorsey Wright Technology Momentum ETF by 28.3% in the 1st quarter. Royal Bank of Canada now owns 45,210 shares of the company’s stock worth $3,903,000 after acquiring an additional 9,962 shares during the period. Finally, StoneX Group Inc. grew its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 2.7% in the fourth quarter. StoneX Group Inc. now owns 38,700 shares of the company’s stock valued at $2,960,000 after purchasing an additional 1,034 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.