Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $100.03 and traded as high as $124.08. Invesco Dorsey Wright Technology Momentum ETF shares last traded at $123.65, with a volume of 47,522 shares traded.

Invesco Dorsey Wright Technology Momentum ETF Stock Performance

The firm has a market capitalization of $652.87 million, a PE ratio of 32.05 and a beta of 1.64. The firm has a fifty day moving average of $100.03 and a 200 day moving average of $88.31.

Institutional Investors Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in Invesco Dorsey Wright Technology Momentum ETF by 107.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 212,785 shares of the company’s stock worth $14,602,000 after purchasing an additional 110,228 shares during the last quarter. Paller Financial Services Inc acquired a new position in Invesco Dorsey Wright Technology Momentum ETF during the 4th quarter valued at approximately $5,948,000. Theory Financial LLC boosted its position in Invesco Dorsey Wright Technology Momentum ETF by 30.9% during the 3rd quarter. Theory Financial LLC now owns 60,914 shares of the company’s stock valued at $4,812,000 after purchasing an additional 14,390 shares during the period. Truist Financial Corp boosted its position in Invesco Dorsey Wright Technology Momentum ETF by 1.9% during the 3rd quarter. Truist Financial Corp now owns 49,419 shares of the company’s stock valued at $3,697,000 after purchasing an additional 926 shares during the period. Finally, StoneX Group Inc. boosted its position in Invesco Dorsey Wright Technology Momentum ETF by 2.7% during the 4th 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 period.

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.