Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Shares Gap Down – Time to Sell?

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $74.68, but opened at $71.32. Invesco Dorsey Wright Technology Momentum ETF shares last traded at $69.57, with a volume of 24,963 shares.

Invesco Dorsey Wright Technology Momentum ETF Trading Down 8.3 %

The stock has a fifty day moving average price of $73.85 and a 200 day moving average price of $66.17. The firm has a market cap of $534.30 million, a price-to-earnings ratio of 12.47 and a beta of 1.23.

Institutional Investors Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 179.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 55,863 shares of the company’s stock worth $3,460,000 after purchasing an additional 35,882 shares during the last quarter. StoneX Group Inc. lifted its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 5.6% during the third quarter. StoneX Group Inc. now owns 33,883 shares of the company’s stock worth $2,149,000 after buying an additional 1,808 shares during the last quarter. SPC Financial Inc. boosted its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 1.9% in the second quarter. SPC Financial Inc. now owns 16,376 shares of the company’s stock valued at $1,014,000 after acquiring an additional 308 shares during the period. Silver Oak Securities Incorporated grew its stake in shares of Invesco Dorsey Wright Technology Momentum ETF by 60.7% in the third quarter. Silver Oak Securities Incorporated now owns 36,441 shares of the company’s stock worth $2,316,000 after acquiring an additional 13,761 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in Invesco Dorsey Wright Technology Momentum ETF by 27.2% during the second quarter. Centaurus Financial Inc. now owns 5,150 shares of the company’s stock worth $319,000 after acquiring an additional 1,100 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.