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

Shares of Invesco China Technology ETF (NYSEARCA:CQQQ) saw strong trading volume on Thursday. Approximately 2,088,309 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 1,182,279 shares. The stock last traded at $41.7210 and had previously closed at $42.00.

Invesco China Technology ETF Price Performance

The stock has a 50 day moving average price of $47.48 and a two-hundred day moving average price of $50.20. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.61 and a beta of 0.62.

Hedge Funds Weigh In On Invesco China Technology ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Invesco China Technology ETF by 23.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,218,668 shares of the company’s stock valued at $470,263,000 after acquiring an additional 1,911,051 shares during the period. Meitav Investment House Ltd. boosted its holdings in shares of Invesco China Technology ETF by 9.9% during the 1st quarter. Meitav Investment House Ltd. now owns 1,066,020 shares of the company’s stock worth $49,058,000 after buying an additional 95,600 shares during the period. Bank of America Corp DE grew its position in shares of Invesco China Technology ETF by 171.1% in the first quarter. Bank of America Corp DE now owns 207,995 shares of the company’s stock valued at $9,572,000 after purchasing an additional 131,260 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Invesco China Technology ETF by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 112,965 shares of the company’s stock valued at $6,442,000 after buying an additional 1,216 shares in the last quarter. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in Invesco China Technology ETF in the 1st quarter worth about $4,866,000.

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).