Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Large Volume Increase – Here’s What Happened

Invesco China Technology ETF (NYSEARCA:CQQQ) shares saw unusually-high trading volume on Thursday. Approximately 2,088,309 shares were traded 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 simple moving average of $47.48 and a 200-day simple moving average of $50.20. The stock has a market cap of $2.30 billion, a P/E ratio of 20.61 and a beta of 0.62.

Hedge Funds Weigh In On Invesco China Technology ETF

A number of hedge funds have recently made changes to their positions in CQQQ. PNC Financial Services Group Inc. lifted 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 worth $470,263,000 after purchasing an additional 1,911,051 shares during the period. Bank of America Corp DE lifted its stake in 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 buying an additional 131,260 shares during the period. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Invesco China Technology ETF during the 1st quarter worth approximately $4,866,000. Rockefeller Capital Management L.P. increased its stake in shares of Invesco China Technology ETF by 38,898.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 100,227 shares of the company’s stock valued at $5,212,000 after acquiring an additional 99,970 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of Invesco China Technology ETF by 9.9% in the 1st quarter. Meitav Investment House Ltd. now owns 1,066,020 shares of the company’s stock valued at $49,058,000 after acquiring an additional 95,600 shares in the last quarter.

About Invesco China Technology ETF

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).