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

Shares of Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) saw an uptick in trading volume on Monday . 140,278 shares changed hands during trading, an increase of 137% from the previous session’s volume of 59,187 shares.The stock last traded at $113.84 and had previously closed at $113.92.

Invesco Dorsey Wright Technology Momentum ETF Stock Performance

The company has a market cap of $642.42 million, a P/E ratio of 32.05 and a beta of 1.64. The firm has a 50 day moving average price of $96.61 and a two-hundred day moving average price of $86.45.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in 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 worth $14,602,000 after purchasing an additional 110,228 shares during the period. Paller Financial Services Inc bought a new position in Invesco Dorsey Wright Technology Momentum ETF in the 4th quarter worth about $5,948,000. Theory Financial LLC boosted its stake in Invesco Dorsey Wright Technology Momentum ETF by 30.9% in the 3rd quarter. Theory Financial LLC now owns 60,914 shares of the company’s stock worth $4,812,000 after purchasing an additional 14,390 shares during the period. Truist Financial Corp boosted its stake in Invesco Dorsey Wright Technology Momentum ETF by 1.9% in the 3rd quarter. Truist Financial Corp now owns 49,419 shares of the company’s stock worth $3,697,000 after purchasing an additional 926 shares during the period. Finally, StoneX Group Inc. raised its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 2.7% in the 4th quarter. StoneX Group Inc. now owns 38,700 shares of the company’s stock valued at $2,960,000 after acquiring an additional 1,034 shares in 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.