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

Shares of Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $138.00 and last traded at $138.00, with a volume of 6896 shares trading hands. The stock had previously closed at $129.75.

Invesco Dorsey Wright Technology Momentum ETF Trading Up 4.5%

The firm’s 50 day simple moving average is $115.33 and its 200-day simple moving average is $95.39. The stock has a market capitalization of $716.13 million, a price-to-earnings ratio of 32.05 and a beta of 1.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 88.4% in the 1st quarter. NewEdge Advisors LLC now owns 6,434 shares of the company’s stock valued at $555,000 after acquiring an additional 3,019 shares during the period. Western Wealth Management LLC bought a new position in shares of Invesco Dorsey Wright Technology Momentum ETF in the 1st quarter valued at about $388,000. Bank of America Corp DE grew its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 2.8% in the 1st quarter. Bank of America Corp DE now owns 182,668 shares of the company’s stock valued at $15,769,000 after acquiring an additional 5,005 shares during the period. Centaurus Financial Inc. grew its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 22.6% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the company’s stock valued at $141,000 after acquiring an additional 300 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 28.3% in the 1st quarter. Royal Bank of Canada now owns 45,210 shares of the company’s stock valued at $3,903,000 after acquiring an additional 9,962 shares during the period.

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.