Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Hits New 52-Week High – Time to Buy?

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) hit a new 52-week high during trading on Monday . The stock traded as high as $77.32 and last traded at $77.29, with a volume of 10443 shares traded. The stock had previously closed at $76.33.

Invesco Dorsey Wright Technology Momentum ETF Stock Up 2.1 %

The company’s 50-day moving average is $68.51 and its two-hundred day moving average is $63.36. The company has a market capitalization of $564.70 million, a P/E ratio of 12.47 and a beta of 1.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTF. Raymond James & Associates boosted its stake in Invesco Dorsey Wright Technology Momentum ETF by 1.3% in the second quarter. Raymond James & Associates now owns 83,655 shares of the company’s stock worth $5,182,000 after buying an additional 1,101 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Invesco Dorsey Wright Technology Momentum ETF by 179.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,863 shares of the company’s stock valued at $3,460,000 after purchasing an additional 35,882 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 49.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 58,352 shares of the company’s stock valued at $3,614,000 after purchasing an additional 19,277 shares during the last quarter. SPC Financial Inc. lifted its stake in Invesco Dorsey Wright Technology Momentum ETF by 1.9% in the second quarter. SPC Financial Inc. now owns 16,376 shares of the company’s stock worth $1,014,000 after purchasing an additional 308 shares during the last quarter. Finally, StoneX Group Inc. boosted its position in Invesco Dorsey Wright Technology Momentum ETF by 5.6% during the third quarter. StoneX Group Inc. now owns 33,883 shares of the company’s stock valued at $2,149,000 after buying an additional 1,808 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.