Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Stock Price Down 12.4% – Here’s What Happened

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF)’s share price was down 12.4% on Thursday . The stock traded as low as $111.01 and last traded at $111.04. Approximately 166,554 shares were traded during mid-day trading, an increase of 115% from the average daily volume of 77,430 shares. The stock had previously closed at $126.77.

Invesco Dorsey Wright Technology Momentum ETF Stock Performance

The business has a 50-day moving average of $124.15 and a 200-day moving average of $100.59. The stock has a market capitalization of $957.14 million, a price-to-earnings ratio of 32.05 and a beta of 1.65.

Hedge Funds Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Invesco Dorsey Wright Technology Momentum ETF in the 4th quarter valued at $57,000. Qube Research & Technologies Ltd increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 5,685.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,157 shares of the company’s stock valued at $79,000 after purchasing an additional 1,137 shares during the period. Centaurus Financial Inc. raised its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 22.6% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the company’s stock valued at $141,000 after buying an additional 300 shares during the last quarter. Sankala Group LLC purchased a new stake in shares of Invesco Dorsey Wright Technology Momentum ETF in the fourth quarter valued at about $144,000. Finally, Jones Financial Companies Lllp boosted its stake 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 worth $130,000 after buying an additional 495 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.