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

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) hit a new 52-week high during trading on Thursday . The stock traded as high as $121.67 and last traded at $121.67, with a volume of 126733 shares. The stock had previously closed at $118.34.

Invesco Dorsey Wright Technology Momentum ETF Stock Up 2.8%

The company has a market capitalization of $642.42 million, a price-to-earnings ratio of 32.05 and a beta of 1.64. The stock’s 50-day simple moving average is $96.61 and its two-hundred day simple moving average is $86.45.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Invesco Dorsey Wright Technology Momentum ETF in the 4th quarter worth about $57,000. Qube Research & Technologies Ltd increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 5,685.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,157 shares of the company’s stock worth $79,000 after buying an additional 1,137 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 29.0% during the first quarter. Jones Financial Companies Lllp now owns 2,203 shares of the company’s stock valued at $130,000 after acquiring an additional 495 shares during the last quarter. Sankala Group LLC acquired a new position in shares of Invesco Dorsey Wright Technology Momentum ETF during the fourth quarter valued at approximately $144,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Invesco Dorsey Wright Technology Momentum ETF in the first quarter valued at approximately $202,000.

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.