Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Sees Large Volume Increase – Should You Buy?

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) shares saw unusually-strong trading volume on Tuesday . Approximately 38,734 shares traded hands during trading, an increase of 56% from the previous session’s volume of 24,822 shares.The stock last traded at $70.29 and had previously closed at $70.32.

Invesco Dorsey Wright Technology Momentum ETF Price Performance

The firm has a market capitalization of $519.41 million, a PE ratio of 12.47 and a beta of 1.23. The company’s fifty day simple moving average is $65.06 and its 200-day simple moving average is $61.86.

Hedge Funds Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Hedge funds have recently made changes to their positions in the company. Cetera Advisors LLC increased its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 25.2% during the first quarter. Cetera Advisors LLC now owns 8,688 shares of the company’s stock worth $498,000 after purchasing an additional 1,750 shares in the last quarter. Outlook Wealth Advisors LLC purchased a new position in shares of Invesco Dorsey Wright Technology Momentum ETF in the second quarter worth about $1,294,000. Genesee Capital Advisors LLC boosted its position in Invesco Dorsey Wright Technology Momentum ETF by 9.7% during the second quarter. Genesee Capital Advisors LLC now owns 40,024 shares of the company’s stock worth $2,479,000 after acquiring an additional 3,537 shares during the last quarter. Raymond James & Associates raised its holdings in Invesco Dorsey Wright Technology Momentum ETF by 1.3% in the 2nd quarter. Raymond James & Associates now owns 83,655 shares of the company’s stock valued at $5,182,000 after acquiring an additional 1,101 shares during the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Invesco Dorsey Wright Technology Momentum ETF in the second quarter valued at approximately $348,000.

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.