Invesco Golden Dragon China ETF (NASDAQ:PGJ) Stock Breaks Above 50-Day Moving Average – Here’s Why

Invesco Golden Dragon China ETF (NASDAQ:PGJ)’s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $22.11 and traded as high as $22.76. Invesco Golden Dragon China ETF shares last traded at $22.22, with a volume of 46,092 shares trading hands.

Invesco Golden Dragon China ETF Stock Performance

The firm has a 50 day moving average of $22.11 and a 200-day moving average of $25.11. The stock has a market capitalization of $81.33 million, a PE ratio of 14.18 and a beta of 0.41.

Hedge Funds Weigh In On Invesco Golden Dragon China ETF

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in shares of Invesco Golden Dragon China ETF by 27.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 40,806 shares of the company’s stock valued at $921,000 after purchasing an additional 8,687 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Invesco Golden Dragon China ETF in the third quarter worth approximately $241,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Invesco Golden Dragon China ETF in the second quarter worth approximately $206,000.

About Invesco Golden Dragon China ETF

The Invesco Golden Dragon China ETF (PGJ) is an exchange-traded fund that is based on the NASDAQ Golden Dragon China index, a market-cap-weighted index of Chinese stocks. PGJ was launched on Dec 9, 2004 and is managed by Invesco.